the baby boomer effect

22 Dec 2019

World economy and the baby boomer effect

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After the Second World War, some countries like the U.S., Canada, Australia, and France had to deal with a spur of babies. The kids that were born in this period are known as “baby boomers”. By now they are getting old and, with their aging, we can observe important economic effects. We are going to refer to them as the baby boomer effect.  Old baby boomers might affect the way that younger generations work and behave.

Among many things, an important consequence of the baby boomer effect is that their kids have an specific type of trouble. Nowadays it is hard for them to engage in a significant career.

the baby boomer effect
Understand the implications of the baby boomer effect when it comes to Millenials’ economic opportunities. (Source: Pixabay)

Millennials might have trouble to work because of the baby boomer effect

When we talk about a significant career, we are referring to that type that you do because you like it. Not everyone goes to college motivated by passion. We are aware of that. However, a lot of Millenials do not engage in the careers they would like to because they stay at home taking care of their parents. Because of that, we see more and more young people becoming their parents’ caregivers.

That type of choice is fueled not only by the wish of taking care of the elderly. There is a great part of the baby boomer generation that got a divorce. This is a problem because usually, the integrant parts of a couple can take care of each other somehow. When a kid is left with only one parent, the pressure to take care of him can crush a lot of dreams.

The Millenials themselves have their own families and children to provide for. Thus, it is reasonable to keep a career where they perform tasks they already do.

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According to The New York Times, many millennial caregivers said their family responsibilities limited their choices when it came to employment. It is no surprise that people get tired of spending efforts to balance life options. Some things just do not go together.

Although reading this is somehow sad, it is important to be aware of how family relationships may shape your life. If you want to have a steady career without leaving your parents behind, it is important to be prepared for that. If you’re the parent that needs assistance, be sure to have an honest conversation with your kid.

It is natural to deal with some degree of the baby boomer effect. But this should not shape the next generation of young people opportunities to develop.

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