Baby boomers: towards the end of an era

Abstract

In Europe, the next fifty years will be marked by the retirement and death of the baby boom generations. But the socioeconomic implications are not necessarily what one might expect. Though the people reaching retirement age will gradually outnumber young people entering the labour market, unemployment will not automatically be reduced. There is no guarantee that all persons who retire will be replaced or that the employment opportunities match the profiles of job seekers.
Likewise, residential care capacity for old people will not inevitably be insufficient. Though more numerous, old people are in better health and can delay their entry into a retirement home.
On the other hand, the 20% to 40% increase in the number of deaths will certainly have major consequences for health systems. In parallel, the funerary services sector will experience rapid growth.