Number of old Americans is going to double in the next 35 years…

“Who you callin’ OLD, Sonny?”

 

The baby boomers are starting to move into the ranks of the elderly, and this will have a profound effect on the age distribution of the country.

The U.S. Census Bureau recently released a report on how the U.S. population will age over the next forty years. Here are some of the most interesting findings.

Here’s how the number of people over 65 is projected to increase between 2012 and 2050:

 

census aging number of over 65

U.S. Census Bureau

 

By 2050, the U.S. is projected to have about 83.7 million people over 65, nearly double the 43.1 million seniors in 2012.

Of course, the rest of the U.S. population is projected to continue growing as well, so here is how the Census thinks the percent share of the population over 65 will change over the next few decades:

 

census aging percent over 65

U.S. Census Bureau

 

In 2012, 13.7% of the population was 65 or older, and that share is expected to consistently rise until about 2030, when seniors will be 20.9% of the population, and then stay at about that level.

The big driving factor in that shift is the aging of the baby boomers. Boomers, born between 1946 and 1964, are starting to move into the ranks of people over 65. Since they are the largest generation in U.S. history, the aging of the boomers has a big impact on the country’s age structure.

 

Women have traditionally had longer life expectancies than men, and so have been over-represented in the senior population. The Census Bureau predicts that this disparity will continue, but lessen over the next forty years, so that the male/female gap among the elderly will narrow:

census aging percent female

U.S. Census Bureau

 

The over 65 population will also become more racially and ethnically diverse over time, as can be seen by the projected declining share of people who identify as non-Hispanic white alone in different senior age groups:

census aging percent white

U.S. Census Bureau

 

The Census also compared the U.S. to other developed countries. All of these countries, including the U.S., are projected to continue aging, but the effect is much more dramatic elsewhere:

census aging developed countries

U.S. Census Bureau

 

The U.S. in 2012 was younger than all the other developed countries, except for Russia. The Census projects that the U.S. will have a relatively lower share of seniors because the U.S. has a much higher rate of younger immigrants moving here than do the other developed countries.

 

[by Andy Kiersz, writing for BUSINESS INSIDER]

……………………………….

As always, posted for your edification and enlightenment by

NORM ‘n’ AL, Minneapolis
normal@usa1usa.com
612.239.0970

 

 

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