Baby Boon or Bust?
Predictions have been made that over 78 million baby boomers will ultimately face retirement within 25 years with drastic effects. The baby boom crisis has become the topic of many conversations and here is a snippet of what people have been saying since 2003.
The Ministry of Labour in Finland created a report called, ‘Preparing for the Labour Market Change Caused by the Baby Boom Generation’. It calculated that after 2010 the population will begin to reduce and starting in 2030, it will go down by 400,000. This equates to approximately 20,000 people each year. Labor aptitude will also reduce after 2010 at a rate of 30,000 people each year. And the worst of it is, there will not be enough young people to replace them.
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