Showing posts with label Baby Boomers. Show all posts
Showing posts with label Baby Boomers. Show all posts

Friday, August 7, 2015

Have We Reached Bottom Yet?

Have We Reached Bottom Yet?

August 07, 2015 Baby Boomers , Labor Participation 0 Comments

Labor Participation Rate At 38 Year Low


By Steve Goldstein, Aug 07, 2015 Market Watch

WASHINGTON (MarketWatch) — It’s an odd thing to say for a number at a 38-year low, but it looks like the percentage of Americans who participate in the labor market has found its footing.

In July, the labor-force participation rate stayed at 62.6%. The rate — alluded to last night by Republican presidential candidates in a televised debate bemoaning the state of the economy — hasn’t veered from a 0.6 percentage point range in nearly two years.

This low participation in the workforce — due to a combination of an aging population, discouraged workers and other factors — has important implications for the U.S. economy and the ability of the U.S. to finance its spending.


Also read: Go-go economy becomes so-so economy

Much of the decline stems from the growing number of baby boomers, who naturally are retiring. The number of people who are 65 years and over, without a disability, who are not in the labor force rose to 24.7 million in July — a rise of about 5 million people since 2008.
Read More: http://www.marketwatch.com

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Monday, July 21, 2014

They know soc. sec's in trouble

July 21, 2014 Alicia Adamczyk , Baby Boomers 0 Comments
Millennials Save For Retirement Earlier Than Baby Boomers, Survey Finds 

Source:  www.blog.mindjet.com
By Alicia Adamczyk, Jul. 17, 2014, Forbes.com

All of those reports encouraging Millennials to start saving for retirement as soon as possible may be paying off, literally. According to the 15th Annual Transamerica Retirement Survey, performed by the nonprofit Transamerica Center for Retirement Studies, Millennials are an “emerging generation of retirement super savers,” with 74% starting to save for retirement at an “unprecedented” median age of 22, or 5 years sooner than Gen Xers and a staggering 13 years sooner than Baby Boomers.

The survey focused on the retirement habits and trends of Baby Boomers, Gen X and Millennials who are currently working full- or part-time in a for-profit company of 10 or more people.

There were stark differences between the habits of the older and younger generations. Despite entering the workforce in the midst of the Great Recession, Millennials are “much more likely” to be recovered from its economic impact than older generations and 68% are confident they will be able to retire comfortably.

This may stem from more open discussions about saving and retirement options.

“Millennial workers are focused on retirement in a big way. Our research found that three out of four are already discussing saving, investing, and planning for retirement with family and friends,” said Catherine Collinson, president of TCRS, in a press release. “In fact, Millennials are twice as likely to frequently discuss retirement compared to their parents’ generation.”

Read the full story:  www.forbes.com

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