The post World War II Baby Boom Generation, also known as "Baby Boomers," has always had a significant impact on the economy due to their sheer numbers. More than 75 million Americans are in this group - meaning they fall between the ages of 46 and 64.
According to a recent JobsInVT.com survey, 45% of our users are Baby Boomers. Most have decades of work experience under their belt; some are in the midst of a career shift. Here are some additional Baby Boomer stats that will affect the job market and perhaps your career.
Older Baby Boomers slated for retirement could create many new future job openings - if they decide to leave the job market at age 65. But that's a big "if." Several trends are now pointing toward delayed retirement due to increased personal expenses, better health and the desire to stay working - at least part-time - beyond age 65. For whatever reason, Baby Boomers are staying in the workforce longer than previous generations.
According to the Bureau of Labor Statistics (BLS), healthcare-related jobs make up half of the 20 fastest growing occupations through 2018. This prediction is due, in large part, to the aging of the Baby Boom population and their future healthcare needs. If you've ever thought about a career in healthcare, the future looks bright.
Non-office Job Growth
The BLS also predicts that the arts, entertainment, and recreation industry is expected to grow by 15 percent by 2018, with most of the growth in the amusement, gambling, and recreation sector.
Job growth is projected to stem partially from retired Baby Boomers who have more leisure time, more disposable income and more concern with being physically fit than the generations before them - all driving a need for more recreational programs. These jobs could be anything from a Recreation Department instructor for a senior citizen swim or exercise class to a nursing home activity director. Great news for those who dread office jobs.
Jobs for Baby Boomers
According to GoToRetirement.com, here are the top three recommended jobs for Baby Boomers who are looking for a transitional career as they head into their early retirement years:
- Personal Home Health Aide
- Personal Financial Advisor
- Social and Community Service Manager
As for non-Boomers, no matter what you choose for a career, it will certainly pay to track Baby Boomer trends over the next decade to see what lies ahead.