Economy

The Baby Boom peaked in 1954-55. That meant that by 2020, 65 years later, we would be seeing half of all boomers hitting retirement age. Demographically, the Baby Boom generation was a tidal wave, much larger than any previous generation. Many people wanted to hold on until they hit 65 and so were eligible for social security, had pensions that kicked in at 65, and often faced corporate policies that pushed people out the door at 65. From here on out, this population will be shrinking, removing as many people from the workforce as has been removed to date, until we hit the nadar in 2038. What's worse, in about five years, even those people that have chosen to stay working past 65 will likely retire due to ill-health, diminishing returns or death, which will in fact accelerate the process.

It's also worth noting that those that are leaving represent a vast amount of stored experience being lost, and that too is accelerating because so many companies chose to outsource, leaving a fairly critical gap in the mid-tier that ordinarily would have helped transition apprentice workers into more seasoned project manager position across all industries. This is bad news for companies that are both going to pay more for less experienced workers to get them to a level where they're competent and will be competing in a labor market that is likely to tighten for the next decade, but is likely to be a boon for labor, as competition for labor will stay high for a while.