The following chart tells the whole story of the American workforce. The bottom of the chart shows the birth date by year of workers born since the 1940s. Baby Boomers are in red, and there is a sharp drop-off between 1965 and 1985 for the much smaller Generation X cohort in blue. The Generation Y group in gold is just starting to come into the workforce.
The major implications are:
- Baby Boomers and their experience will be invaluable well beyond their traditional retirement age, because the smaller Generation X cohort will not have had either sufficient experience or sufficient numbers to take the place of retiring boomers.
- Baby Boomers who want to work at something that gives them meaning and money will have a wide array of choices.