Baby Boom

Chart of the Birth Rate from 1909 - 2009

The Baby Boom began with the births of many children who had been waited for until the depression was over. There were two main other factors that affected the birthrate as well, many people married, and those who did had more kids. Married and single women born between 1911 and 1912 had an average of 2.9 children, whereas those born between 1929 and 1933 had an average of 3.3. This means that each woman had an extra 0.4 kids or increased by 13%. The second factor was more adults got married at a younger age this is called “timing phenomena”. Also these young couples needed to have their kids in the first few years of their married life. Between 1940 and 1965 births in Canada rose from 253 000 in 1940 to 479 000 in 1960, an extra 1.5 million more births occurred.

The baby boomers effect us greatly today, it is estimated 3.3 million people will be over the age of 80 by 2036 from the previous 1.3 million. Also eventually these senior citizens will need health care and although we produce 200 doctors/ nurses each year we need around 400 to be able to keep up with the baby boomers. The baby boomers although they create problems they are also good for the economy because they control over 80% of personal financial assets and more than half of consumer spending. They buy 77% of all prescription drugs, 61% of over the counter drugs, and 80% of all leisure travel. I think the baby boomers are good for now but eventually they will cause problems to the economy because when they are not around all the buying they do that boosts the economy wont be around, and all the purchase of prescription drugs, over the counter drugs, and leisure travel will decrease.