Introduction to Labor and Financial Markets

BRING IT HOME

Baby Boomers Come of Age
According to the 2020 Census, 22% of the U.S. population was 60 years old or older, which means that more than

74 million people have reached an age when they will need increased medical care.

The baby boomer population, the group born between 1946 and 1964, is comprised of more than 71 million people

who have already reached retirement age or will soon reach retirement. As this population grows older, they will be

faced with common healthcare issues such as heart conditions, arthritis, and Alzheimer’s that may require

hospitalization, long-term, or at-home nursing care. Aging baby boomers and advances in life-saving and life-

extending technologies will increase the demand for healthcare and nursing. Additionally, the Affordable Care Act,
88 4 • Labor and Financial Markets

which expands access to healthcare for millions of Americans, has further increased the demand.
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