With a new census just around the corner, I found it interesting to see that the U.S. Census Bureau recently released some new statistics about baby boomers. On the surface, that may not seem like a big deal, but since it's the first time in 13 years we've seen their specific data, I thought it was worth sharing. (The numbers, btw, are current as of 2006. Keep in mind that means the boomers were between 42 and 60 at the time.)
I couldn't help but notice that the bureau still refers to 55+ as "the older population" and 65+ as "elderly." Let's hope when the new census is conducted, the feds will be a bit more enlightened in their view of what constitutes "older" and "elderly." For the record, Edelman's research shows boomers don't consider someone old until they've reached age 74. Anyway, here are some tidbits from the 2006 data:
> There are 77,980,296 boomers living in the U.S. Women are a slight majority - 50.9%. By 2030, however, that number will increase to 54.9%, or 57,793,135 female boomers.
> Can you guess which states had the highest number of boomers? California, Texas, New York, Florida and Pennsylvania. That's pure numbers, but when you look at which states had the highest percentage of the population in the 42-60 year-old group, up pops Vermont, Maine, New Hampshire, Montana and Connecticut.
> Some 74.1% of boomers were employed and 22.4% were not in the labor force. The remainder were in the miltary or unemployed.
> Two-thirds of boomers were homeowners, while 25% rented.
> Only 10.3% were Hispanic, leaving 89.7% non-Hispanc.
> We're an educated group, too. Almost a third (29.8%) were high school graduates and 28.9% had some college, while 28.8% had earned a bachelor's degree or higher. The number of boomers holding less than a high school diploma was a low 12.5%.
It will be interesting to watch how these numbers change when the new census is taken in 2010. Without question we'll see affirmation again that the U.S. population is rapidly aging, as people live longer than any generation before them. Expect an uptick in the number of boomers who are employed, or who are re-entering the work force. I think we'll see home owership go down as well, given that so many boomers lost their homes to foreclosure over the past couple of years. What other changes do you predict?
Marketers need to pay close attention to the 2010 census data when it is released more than a year from now. Since 2010 also marks the year that Gen Y will surpass boomers in number and perhaps even spending power, we can expect a very different picture to be painted going forward.
You can get a sneak peek at the questions on the 2010 form here. (Incredibly, you still can't fill out a form online, but you can blog and tweet about how inconvenient it is to not be able to fill it out online!)