America's baby boom generation: the fateful bulge.

Abstract

From 1955-64 nearly 42 million births occurred in the U.S., an unprecedented expansion. The roots of the baby boom lie in the universal rush to early marriage and favorable economic climate for the relatively scarce young men born of the Depression cohort. The impact of the boom interrupted a century-long fertility decline. Pro-marriage, pronatalist norms were revived by the Depression cohort who formed families of at least 2 children or more. During the 1960-70's schools, colleges, and universities were built to accomodate the boom and are now excessive for the baby bust cohort. Unemployment and crime rates rose and fell with the passing of the boom babies through late adolescence and early adulthood. In the 1980's, boom babies will be aged 20-30. Demands for housing will be high. Annual birth numbers will increase even if the rate of childbearing hovers below replacement level at about 1.8 per woman. Per capita earnings and overall labor productivity should improve as the boom baby cohort reaches middle age in the 1990s. However, chances for advancement will be fewer. As the cohort reaches retirement age, the over 65 population will double from 31 million in 2000 to almost 60 million in 2030. Although the burden will be somewhat offset by reduced proportions of under 18-year-olds, the ratio of active workers paying Social Security will fall drastically.

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