BABY BOOM, Slides of Marketing

This generation of baby boomers was the result of a strong postwar economy, in which Americans felt confident they would be able to support a larger ...

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2022/2023

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BABY
BOOM
Overview
! Following World War II, the
United States experienced a
greatly elevated birth rate,
adding on average 4.24 million new babies to the population every year
between 1946 and 1964.
! This generation of "baby boomers" was the result of a strong postwar economy,
in which Americans felt confident they would be able to support a larger number
of children. Boomers also influenced the economy as a core marketing
demographic for products tied to their age group, from toys to records.
! Constituting as much as 40% of the American population, baby boomers have
exerted a strong pull on American culture at large, particularly during the social
movements of the 1960s.
! Today, most boomers are at or near retirement, prompting concerns for how
American society will cope with an aging population.
The baby boom
Like many industrialized Western nations, in the early twentieth century the United
States was experiencing a gradual decline in its birthrate. As more Americans moved
off the farm and into the city, having a large family slowly transformed from a good
labor investment to a poor economic choice. Consequently, in the midst of the Great
Depression, the American birthrate fell to its lowest point yet, to just 18.4 live births
per thousand population.
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BABY

BOOM

Overview ! Following World War II, the United States experienced a greatly elevated birth rate, adding on average 4.24 million new babies to the population every year between 1946 and 1964. ! This generation of "baby boomers" was the result of a strong postwar economy, in which Americans felt confident they would be able to support a larger number of children. Boomers also influenced the economy as a core marketing demographic for products tied to their age group, from toys to records. ! Constituting as much as 40% of the American population, baby boomers have exerted a strong pull on American culture at large, particularly during the social movements of the 1960s. ! Today, most boomers are at or near retirement, prompting concerns for how American society will cope with an aging population. The baby boom Like many industrialized Western nations, in the early twentieth century the United States was experiencing a gradual decline in its birthrate. As more Americans moved off the farm and into the city, having a large family slowly transformed from a good labor investment to a poor economic choice. Consequently, in the midst of the Great Depression, the American birthrate fell to its lowest point yet, to just 18.4 live births per thousand population.

World War II, however, had a profound effect on the American birth rate, which skyrocketed in a stunning and unexpected reversal of the prewar decline. A combination of factors produced this baby boom: soldiers returning home from the war were weary of adventure and wished to settle down into family life with their sweethearts, and GI Bill benefits promised the decent pay, access to good jobs, and affordable housing that made raising a family possible. After more than fifteen years of economic uncertainty, things were finally looking up in the United States, and everyone was determined to make the most of it. Babies, babies, and more babies World War II had vast repercussions not only on world politics but also on the American family. Couples rushed to wed and conceive children before soldiers shipped out--in part due to the romance and urgency of wartime, in part due to the extra pay soldiers received if they had families to support. The spike in marriages was even larger after the war, as returning soldiers tied the knot. 2.2 million couples married in 1946, a new record that would stand until the 1970s With this record number of unions came a record number of babies. The first stirrings of the baby boom became evident as early as 1942, when the historically low birth rates of the Great Depression began to turn around with the birth of "furlough babies" during World War II. It wasn't until nine months after the war's end, however, that the boom began in earnest: before demobilization only about 200,000 babies were born in the United States per month, but by the end of 1946 that figure had increased to nearly 350,000 babies. 20% more babies were born in 1946 than in 1945. By 1947, the number of live births per thousand population jumped to 26.6. But the baby boom wasn't just a quick spike in births after the end of World War II. The elevated American fertility rate continued for another 18 years. On average, 4. million babies were born per year between 1946 and 1964, when birth rates finally began to decline again. In 1964, the 76.4 million babies born during the baby boom generation constituted a whopping 40% of the US population, which was then about 192 million.

life. Today, the baby boomers still number about 76 million, as immigrants of approximately the same age have made up for American-born boomers who emigrated or passed away. As they age, the ratio of retired Americans compared to working Americans will increase significantly, placing considerable strain on Social Security, hospitals, and other government agencies designed to aid the elderly. The Census Bureau estimates that by 2030 one in five Americans will be over the age of 65. Furthermore, as the US birth rate is currently at an all-time low of just 12.5 live births per thousand population, by 2056 Americans aged 65 or older will outnumber those under the age of 18. What effect this aging population will have on US society remains to be seen.