Summary: The Impact Of Aging Baby Boomer

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The topic of this document is the impact of aging baby boomer on labor force participation. It’s a document published on February 2014, wrote by Alicia H. Munnell.
There were lots of changes in the labor force participation rate. The great change began in the 1960s with the baby boom. The baby boom is a period which the rate of birth exploded. This change in the demographic caused changes in the labor and in the unemployment rate.
First the policymakers assumed that the natural rate of unemployment wasn’t fix and changes depending on the characteristics and the composition of the labor force. When the baby boom entered in the economy the natural unemployment rate increased in the late 1960s. It was higher for the young workers than the older

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