Over the last 70 or so years, the baby boomer generation — those born in the years that immediately followed World War II — have reached adulthood, contributed to numerous advancements in the workplace and are now reaching retirement age. Generation X came after the Baby Boomer generation. These individuals were born between 1964 and 1982 (sometimes this is from 1965 through 1979.) No members of this generation served as president. However, this generation is known to have done well. The group collectively learned more than Baby Boomers did when they were the same age.
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2 Various labels are used to describe generations, but there are a few overlaps Credit: Getty - Contributor What are baby boomers?Following World War II, there was a 'baby boom', which gives this generation their nickname.The increased birth rates make them a large portion of the population, and they are typically born between the early to mid 1940s, to 1960 - 1964.They benefited from a time of increasing affluence and higher levels of income than their parents, and a surge in consumerism, enjoying more money to spend on food, clothes, and holidays. What is Generation X?Following the baby boomers, Generation X are born between the early-to-mid 1960s, and the early 1980s. ©News Group Newspapers Limited in England No.
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According to the U.S. Bureau of Labor Statistics (BLS), almost 20% of Americans over the age of 65 were employed or actively looking for work last year, up from less than 12% two decades earlier. (The youngest baby boomers, born in 1964, turned or will turn 55 this year.)'Labor force participation rate is expected to increase fastest for the oldest segments of the population — most notably, people aged 65 to 74 and 75 and older — through 2024,' the BLS in 2017. 'In contrast, participation rates for most other age groups in the labor force aren't projected to change much over the 2014–24 decade.' Meanwhile, the U.K.' S Office for National Statistics Britain's over-65 workforce to grow by 20% in the decade to 2024. In 2016, the ONS predicted England's over-65 workforce would see an increase of almost 60% within 25 years.Earlier this year, the World Economic Forum (WEF) published an article that outlined some of the reasons the global workforce was ageing.'
Science is making longer lives possible — and as people live longer, they are continuing to learn, to be productive and to contribute to society. For many people, that means continuing to work,' the WEF said. 'Today, a key part of extended middle age is the freedom to work.
More and more, people want to keep working past traditional retirement age because they want to continue to contribute to society and find meaning in their own lives – and work does that for them.' Additionally, Glassdoor noted that as the population aged, pensions may not be sufficient to support people throughout their longer lives, giving some no choice but to return to work.
The over-65s 'aren't going anywhere,' the report said, noting that boomers are healthier than past generations and more in need of retirement income than their predecessors.However, Glassdoor flagged that few employers were tapping into the growing baby boomer talent pool, with most recruitment drives focused on tech-savvy generation Z and millennial workers.' As boomers continued to work or re-enter the workforce, Glassdoor noted that some challenges would arise for employers — such as tackling ageism.'
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