business news in context, analysis with attitude

by Kevin Coupe

The Wall Street Journal notes this morning that the Baby Boomer generation has been eclipsed by the Millennial generation - in mid-2015, Millennials became a larger group, throwing into second place "the massive generation" that "dominated much of American politics and culture for decades" after World War II.

But, it points out, Baby Boomers won't be in second place for long. Third place is just around the corner.

"Within the next few years," the story says, "the baby boomers are likely to also be overtaken by the generation of people born after the millennials in the early years of the 21st century."

Two interesting passages from the story:

• The Pew Research Center "has not officially designated a name for the postmillennial generation - though many analysts have already taken to calling today’s children and teenagers Generation Z - that came of age during the post-Sept. 11, housing-bubble-and-bust era. The investment bank Goldman Sachs has argued that this Generation Z 'matters more than millennials' because it will ultimately be even larger."

• "Millennials and Generation Z surpassing the baby boomers has mostly been driven by births and by immigration, rather than by baby boomers dying. It will take years for these generations to reach their full influence. Earnings typically peak in people’s mid-to-late careers, meaning that boomers will continue to dominate consumer spending and hold more of the nation’s wealth. Voter turnout typically rises with age until voters are in their 70s, so boomers will remain for many more election cycles the dominant generation in U.S. politics."

It is an Eye-Opener.
KC's View: