Section TwoThe Boomer Age Bulge
Projections of the labor force through the year 2008 reveal vast
differences in the size of age cohorts. As Table 2-1 indicates,
the intermediate age groups will decline. Participants in the
25-to-34 age group will decline 1.3 percent from 1998, while
those in the 34-to-44 age group will decline by 6.9 percent. In
contrast, participants in the youngest groups will increase.
Those 16 to 19 will increase by 13.8 percent, while those 20 to
24 will increase by 16 percent. The largest increases come at
the upper end of the age groups where the boomers are
located. Labor force participants aged 45 to 54 will increase by
29.7 percent from 1998 levels, while those 55 to 64 will
increase by a phenomenal 55.8 percent. The implications of
these projections are dramatic. There will be a shortage of
workers aged 25 to 44, while there will be an abundance of
more experienced workers with the largest age category in the
labor force of ages 45 to 54.^92