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The Baby Boom: Americans Borns 1946 to 1964, 7th ed.

The enormous size of the Baby-Boom generation ensures that when it sneezes the nation catches a cold. Today, the United States has pneumonia, struggling to recover from the worst economic downturn since the Great Depression. The collapse and subsequent paralysis of the housing market has decimated the net worth of Boomers, millions of them on the brink of retirement. The seventh edition of The Baby Boom: Americans Born 1946 to 1964 is your strategic guide to the changing socioeconomic status of this important generation of Americans.

The Baby Boom is a definitive reference by a nationally recognized authority on the Baby Boom. In it Russell analyzes the demographic and spending data you need to fully understand this huge and influential generation whose top concerns are financial security, health care, and retirement.

New to this edition is all-important 2010 census population data, a unique comparison of the attitudes of the four generations of American adults based on the General Social Survey, the latest homeownership rates, time use by age and sex, trends in household spending and wealth since the Great Recession, and labor force statistics with projections to 2020.

The Baby Boom: Americans Born 1946 to 1964 is designed for easy use. It is divided into 11 chapters, organized alphabetically attitudes, education, health, housing, income, labor force, living arrangements, population, spending, time use, and wealth.


Introduction


Chapter 1. Attitudes
Highlights
Boomers Are Most Likely to Say They Are Not Too Happy
Belief in Hard Work Is Strong Across Generations
Older Americans Are Doing Far Better than Middle-Aged or Younger Ones
The American Standard of Living Is Falling
Two Children Are Most Popular
Religious Diversity Is on the Rise
Growing Tolerance of Sexual Behavior
Television News Is Most Important
Most Support Abortion if a Mother’s Health Is Endangered


Chapter 2. Education
Highlights
Boomers Now Rank Third in Educational Attainment
Most Boomers Have Been to College
Older Boomer Men Are among the Best Educated
Most Boomer Women Have Been to College
Among Boomer Men, Asians Are the Best Educated
Among Boomer Women, Hispanics Are the Least Educated
Few Boomers Are Still in School
Nearly 1.4 Million Boomers Are Still in College


Chapter 3. Health
Highlights
Most 45-to-54-Year-Olds Feel Excellent or Very good
Weight Problems Are the Norm for Boomers
Nearly One in Five 45-to-54-Year-Olds Smoke Cigarettes
Many Middle-Aged Americans Lack Health Insurance
Health Problems Increase in the 45-to-64 Age Group
Prescription Drug Use Is Increasing
Millions of Middle-Aged Americans Are Disabled
Boomers Are Filling Physician Waiting Rooms
Boomers Account for One in Five Deaths


Chapter 4. Housing
Highlights
Homeownership Rate Has Declined
Homeownership Rises with Age
Married Couples Are Most Likely to Be Homeowners
Most Middle-Aged Blacks and Hispanics Are Homeowners
The Middle Aged Are Most Likely to Live in Single-Family Homes
Mobility Rates Are Low in Middle Age


Chapter 5. Income
Highlights
Median Income Is Declining for Households Headed by the Middle Aged
Household Income Peaks in Late Forties
Among Boomers, Asians and Non-Hispanic Whites Have the Highest Incomes
Married Couples Have the Highest Incomes
The Median Income of Middle-Aged Men Has Declined
Men Aged 45 to 54 Have the Highest Incomes
Women’s Incomes Are Flat through Middle Age
Earnings Rise with Education
Poverty Rate among Boomers Is below Average


Chapter 6. Labor Force
Highlights
Labor Force Participation Rose among Older Boomers
Boomers Are a Large Share of Workers
Among Boomer Men, Hispanics Have the Highest Labor Force Rate
Most Boomer Women Are in the Labor Force
Most Couples under Age 55 Are Dual Earners
Boomers Are Almost Half of Nation’s Managers
Many Workers Have Part-Time Jobs
Few Boomers Are Self-Employed
Job Tenure among Younger Boomers Has Decreased
Most Minimum-Wage Workers Are Young Adults
Union Representation Peaks among Workers Aged 55 to 64
Number of Workers Aged 65 or Older Will Soar during the Decade


Chapter 7. Living Arrangements
Highlights
Most Boomer Households Are Headed by Married Couples
Few Black Households Are Headed by Married Couples
Boomer Households Are Shrinking
Most Boomers Are Empty-Nesters
Boomers Account for More than One-Third of People Who Live Alone
Divorced Population Peaks in Middle Age
Regardless of Race, the Middle Aged Are Most Likely to Be Married
Divorce Is Highest among Men and Women in Their Fifties


Chapter 8. Population
Highlights
Boomers Are Still the Largest Generation
Boomers Are Less Diverse than Younger Americans
Many Boomers Live in Their State of Birth
The Middle Aged Are a Substantial Share of Immigrants
Many Working-Age Adults Do Not Speak English at Home
Largest Share of Baby Boomers Lives in the South


Chapter 9. Spending
Highlights
Boomer Spending Has Declined
Householders Aged 45 to 54 Are the Biggest Spenders
Householders Aged 55 to 64 Spend Slightly More than Average


Chapter 10. Time Use
Highlights
The Middle Aged Spend More Time at Work than at Play


Chapter 11. Wealth
Highlights
Net Worth Fell Sharply during the Great Recession
Financial Asset Value Declined in Most Age Groups
Nonfinancial Assets Are the Basis of Household Wealth
Most Households Are in Debt
Retirement Worries Are Growing


Glossary


Bibliography


Index


List of Tables


Chapter 1. Attitudes
1.1 General Happiness, 2010
1.2 Happiness of Marriage, 2010
1.3 Is Life Exciting, Routine, or Dull, 2010
1.4 Trust in Others, 2010
1.5 How People Get Ahead, 2010
1.6 Geographic Mobility Since Age 16, 2010
1.7 Social Class Membership, 2010
1.8 Family Income Relative to Others, 2010
1.9 Satisfaction with Financial Situation, 2010
1.10 Job Satisfaction, 2010
1.11 Parents’ Standard of Living, 2010
1.12 Standard of Living Will Improve, 2010
1.13 Children’s Standard of Living, 2010
1.14 Ideal Number of Children, 2010
1.15 Spanking Children, 2010
1.16 Better for Man to Work, Woman to Tend Home, 2010
1.17 Working Mother’s Relationship with Children, 2010
1.18 Should Government Help the Sick, 2010
1.19 Attitude toward Science, 2010
1.20 Attitude toward Evolution, 2010
1.21 Religious Preference, 2010
1.22 Degree of Religiosity, 2010
1.23 Belief in the Bible, 2010
1.24 Bible in the Public Schools, 2010
1.25 Premarital Sex, 2010
1.26 Homosexual Relations, 2010
1.27 Gay Marriage, 2010
1.28 Main Source of Information about Events in the News, 2010
1.29 Political Leanings, 2010
1.30 Political Party Affiliation, 2010
1.31 Favor or Oppose Death Penalty for Murder, 2010
1.32 Favor or Oppose Gun Permits, 2010
1.33 Legalization of Marijuana, 2010
1.34 Support for Legal Abortion by Reason, 2010
1.35 Doctor-Assisted Suicide, 2010


Chapter 2. Education
2.1 Educational Attainment by Generation, 2010
2.2 Educational Attainment of Baby Boomers, 2010
2.3 Educational Attainment of Baby-Boom Men, 2010
2.4 Educational Attainment of Baby-Boom Women, 2010
2.5 Educational Attainment of Baby-Boom Men by Race and Hispanic Origin, 2010
2.6 Educational Attainment of Baby-Boom Women by Race and Hispanic Origin, 2010
2.7 School Enrollment by Sex and Age, 2010
2.8 College Students by Age and Enrollment Level, 2010


Chapter 3. Health
3.1 Health Status by Age, 2010
3.2 Average Measured Weight by Age and Sex, 2003–06
3.3 Weight Status by Sex and Age, 2007–10
3.4 Leisure-Time Physical Activity Level by Sex and Age, 2010
3.5 Cigarette Smoking Status by Age, 2010
3.6 Alcohol Use by Age, 2010
3.7 Illicit Drug Use by People Aged 12 or Older, 2010
3.8 Marijuana Use by People Aged 12 or Older, 2010
3.9 Health Insurance Coverage by Age, 2010
3.10 Private Health Insurance Coverage by Age, 2010
3.11 Government Health Insurance Coverage by Age, 2010
3.12 Spending on Health Care by Age, 2009
3.13 Spending on Health Care by Generation, 2009
3.14 Number of Adults with Health Conditions by Age, 2010
3.15 Distribution of Health Conditions among Adults by Age, 2010
3.16 Percent of Adults with Health Conditions by Age, 2010
3.17 Hypertension by Sex and Age, 1988–94 to 2007–10
3.18 High Cholesterol by Sex and Age, 1988–94 to 2007–10
3.19 Diabetes Diagnosis by Age, 2010
3.20 Prescription Drug Use by Sex and Age, 1988–94 to 2005–08
3.21 Spending on Prescription Medications by Age, 2009
3.22 Spending on Prescription Medications by Generation, 2009
3.23 Difficulties in Physical Functioning among Adults by Age, 2010
3.24 Cumulative Number of AIDS Cases by Sex and Age, through 2009
3.25 Physician Office Visits by Sex and Age, 2009
3.26 Hospital Outpatient Department Visits by Age and Reason, 2008
3.27 Emergency Department Visits by Age and Urgency of Problem, 2008
3.28 Number of Overnight Hospital Stays by Age, 2010
3.29 Rating of Health Care Received from Doctor’s Office or Clinic by Age, 2009
3.30 Rating of Health Care Received from Doctor’s Office or Clinic by Generation, 2009
3.31 Adults Who Use Complementary and Alternative Medicine by Age, 2007
3.32 Leading Causes of Death among People Aged 45 to 64, 2010
3.33 Life Expectancy by Age and Sex, 2010


Chapter 4. Housing
4.1 Homeownership by Age of Householder, 2000 to 2011
4.2 Owners and Renters by Age of Householder, 2011
4.3 Homeownership Rate by Age of Householder and Type of Household, 2011
4.4 Homeownership Rate by Age of Householder and Region, 2011
4.5 Homeownership Rate by Age, Race, and Hispanic Origin, 2010
4.6 Number of Units in Structure by Age of Householder and Homeownership Status, 2010
4.7 Geographical Mobility by Age and Type of Move, 2010–11
4.8 Reason for Moving among People Aged 45 to 64, 2010–11


Chapter 5. Income
5.1 Median Income of Households Headed by People Aged 45 to 64, 1990 to 2010
5.2 Income of Households Headed by People Aged 45 to 64, 2010: Total Households
5.3 Income of Households Headed by People Aged 45 to 64, 2010: Asian Households
5.4 Income of Households Headed by People Aged 45 to 64, 2010: Black Households
5.5 Income of Households Headed by People Aged 45 to 64, 2010: Hispanic Households
5.6 Income of Households Headed by People Aged 45 to 64, 2010: Non-Hispanic White Households
5.7 Income of Households by Household Type, 2010: Aged 45 to 54
5.8 Income of Households by Household Type, 2010: Aged 45 to 49
5.9 Income of Households by Household Type, 2010: Aged 50 to 54
5.10 Income of Households by Household Type, 2010: Aged 55 to 64
5.11 Income of Households by Household Type, 2010: Aged 55 to 59
5.12 Income of Households by Household Type, 2010: Aged 60 to 64
5.13 Median Income of Men Aged 45 to 64, 1990 to 2010
5.14 Median Income of Women Aged 45 to 64, 1990 to 2010
5.15 Income of Men Aged 45 to 64, 2010: Total Men
5.16 Income of Men Aged 45 to 64, 2010: Asian Men
5.17 Income of Men Aged 45 to 64, 2010: Black Men
5.18 Income of Men Aged 45 to 64, 2010: Hispanic Men
5.19 Income of Men Aged 45 to 64, 2010: Non-Hispanic White Men
5.20 Income of Women Aged 45 to 64, 2010: Total Women
5.21 Income of Women Aged 45 to 64, 2010: Asian Women
5.22 Income of Women Aged 45 to 64, 2010: Black Women
5.23 Income of Women Aged 45 to 64, 2010: Hispanic Women
5.24 Income of Women Aged 45 to 64, 2010: Non-Hispanic White Women
5.25 Earnings of Men by Education, 2010: Aged 45 to 54
5.26 Earnings of Men by Education, 2010: Aged 55 to 64
5.27 Earnings of Women by Education, 2010: Aged 45 to 54
5.28 Earnings of Women by Education, 2010: Aged 55 to 64
5.29 People below Poverty Level by Age, Race, and Hispanic Origin, 2010


Chapter 6. Labor Force
6.1 Labor Force Participation Rate by Sex and Age, 2000 to 2011
6.2 Employment Status by Sex and Age, 2011
6.3 Employment Status of Men by Race, Hispanic Origin, and Age, 2011
6.4 Employment Status of Women by Race, Hispanic Origin, and Age, 2011
6.5 Labor Force Status of Married-Couple Family Groups by Age, 2011
6.6 Occupations of Workers Aged 45 to 64, 2011
6.7 Share of Workers Aged 45 to 64 by Occupation, 2011
6.8 Distribution of Workers Aged 45 to 64 by Occupation, 2011
6.9 Workers Aged 45 to 64 by Detailed Occupation, 2011
6.10 Full- and Part-Time Workers by Age and Sex, 2011
6.11 Part-Time Workers by Sex, Age, and Reason, 2011
6.12 Self-Employed Workers by Sex and Age, 2011
6.13 Job Tenure by Sex and Age, 2000 and 2010
6.14 Long-Term Employment by Sex and Age, 2000 and 2010
6.15 Workers Earning Minimum Wage by Age, 2011
6.16 Union Representation by Sex and Age, 2011
6.17 Projections of the Labor Force by Sex and Age, 2010 and 2020
6.18 Projections of Labor Force Participation by Sex and Age, 2010 and 2020


Chapter 7. Living Arrangements
7.1 Households Headed by People Aged 45 to 64 by Household Type, 2011: Total Households
7.2 Households Headed by People Aged 45 to 64 by Household Type, 2011: Asian Households
7.3 Households Headed by People Aged 45 to 64 by Household Type, 2011: Black Households
7.4 Households Headed by People Aged 45 to 64 by Household Type, 2011: Hispanic Households
7.5 Households Headed by People Aged 45 to 64 by Household Type, 2011: Non-Hispanic White Households
7.6 Average Size of Household by Age of Householder, 2011
7.7 Households by Type, Age of Householder, and Presence of Children, 2011: Total Households
7.8 Households by Type, Age of Householder, and Presence of Children, 2011: Asian Households
7.9 Households by Type, Age of Householder, and Presence of Children, 2011: Black Households
7.10 Households by Type, Age of Householder, and Presence of Children, 2011: Hispanic Households
7.11 Households by Type, Age of Householder, and Presence of Children, 2011: Non-Hispanic White Households
7.12 Households by Presence and Age of Children and Age of Householder, 2011
7.13 People Who Live Alone by Age, 2011
7.14 Marital Status by Sex and Age, 2011: Total People
7.15 Marital Status by Sex and Age, 2011: Asians
7.16 Marital Status by Sex and Age, 2011: Blacks
7.17 Marital Status by Sex and Age, 2011: Hispanics
7.18 Marital Status by Sex and Age, 2011: Non-Hispanic Whites
7.19 Marital History of Men by Age, 2009
7.20 Marital History of Women by Age, 2009


Chapter 8. Population
8.1 Population by Age and Generation, 2010
8.2 Population by Age and Sex, 2010
8.3 Population by Age, 2000 and 2010
8.4 Number of People by Age, Race Alone, and Hispanic Origin, 2010
8.5 Number of People by Age, Race Alone or in Combination, and Hispanic Origin, 2010
8.6 Population by Generation, Race Alone or in Combination, and Hispanic Origin, 2010
8.7 Population by Age and Place of Birth, 2010
8.8 Foreign-Born Population by Age and World Region of Birth, 2010
8.9 Immigrants by Age, 2011
8.10 Language Spoken at Home by People Aged 18 to 64, 2010
8.11 Population by Age and Region, 2010
8.12 Regional Distribution of Population by Age, 2010
8.13 Age Distribution of Population by Region, 2010
8.14 Population by Generation and Region, 2010
8.15 State Populations by Age, 2010
8.16 Distribution of State Populations by Age, 2010
8.17 State Populations by Generation, 2010
8.18 Distribution of State Populations by Generation, 2010
8.19 State Populations by Age, Race Alone or in Combination, and Hispanic Origin, 2010


Chapter 9. Spending
9.1 Average Household Spending, 2000 to 2010
9.2 Average Spending by Householders Aged 45 to 54, 2000 to 2010
9.3 Average Spending by Householders Aged 55 to 64, 2000 to 2010
9.4 Average, Indexed, and Market Share of Spending by Householders Aged 45 to 54, 2010
9.5 Average, Indexed, and Market Share of Spending by Householders Aged 55 to 64, 2010


Chapter 10. Time Use
10.1 Detailed Time Use of People Aged 45 to 54, 2010
10.2 Detailed Time Use of People Aged 55 to 64, 2010
10.3 Detailed Time Use of Men Aged 45 to 54, 2010
10.4 Detailed Time Use of Men Aged 55 to 64, 2010
10.5 Detailed Time Use of Women Aged 45 to 54, 2010
10.6 Detailed Time Use of Women Aged 55 to 64, 2010


Chapter 11. Wealth
11.1 Net Worth of Households, 2007 and 2009
11.2 Ownership and Value of Financial Assets, 2007 and 2009
11.3 Households Owning Transaction Accounts, Life Insurance, and CDs, 2007 and 2009
11.4 Households Owning Retirement Accounts and Stocks, 2007 and 2009
11.5 Households Owning Pooled Investment Funds and Bonds, 2007 and 2009
11.6 Ownership and Value of Nonfinancial Assets, 2007 and 2009
11.7 Households Owning Primary Residence, Other Residential Property, and Nonresidential Property, 2007 and 2009
11.8 Households Owning Vehicles and Business Equity, 2007 and 2009
11.9 Debt of Households, 2007 and 2009
11.10 Households with Residential Debt, 2007 and 2009
11.11 Households with Credit Card Debt, Vehicle Loans, and Education Loans, 2007 and 2009
11.12 Retirement Confidence, 2002 and 2012
11.13 Expected Age of Retirement, 2002 and 2012
11.14 Retirement Savings by Age, 2012


List of Illustrations


Chapter 1. Attitudes
Few Millennials trust others
Many Americans live in the same city as they did when a teenager
Older Americans are least likely to be dissatisfied with their finances
Most still believe their children will be better off
Even among older Americans, a minority thinks traditional sex roles are best
Younger generations are less likely to be Protestant
Most Millennials support gay marriage
News sources differ dramatically by generation
Fewer than half of Americans in every generation favor allowing abortion for any reason


Chapter 2. Education
People aged 25 to 44 have the highest level of educational attainment
More than half the Baby-Boom generation has college experience
Men aged 60 to 64 are the best educated Boomers
The youngest Boomer women are most likely to have at least some college experience
Half of Asian Baby-Boom men have a bachelor’s degree
Among Boomer Women, Asians are the best educated
Women outnumber men in school
Boomers account for 14 percent of graduate students


Chapter 3. Health
More than half of 55-to-64-year-olds say their health is excellent or very good
Middle-aged Americans weigh more than they should
As Boomers fill the 65-or-older age group, lifetime marijuana use will rise sharply in the oldest age group
Many Americans under age 65 do not have health insurance coverage
The percentage of people with diabetes rises with age
Most Boomers have prescription drug expenses
Disabilities rise in middle age
Doctor visits rise with advancing age
Baby Boomers have lived more years than they have remaining


Chapter 4. Housing
After peaking in 2004, homeownership has fallen among householders aged 45 to 64
Homeowners greatly outnumber renters among 45-to-64-year-olds
Ninety percent of couples aged 55 or older own their home
Most Boomers are homeowners, regardless of race or Hispanic origin
Most of the middle aged are in single-family homes
Few of the middle aged move


Chapter 5. Income
Households headed by Boomers lost ground during the past decade
The middle aged have the highest incomes
Median household income varies by race and Hispanic origin
Incomes peak among married couples aged 45 to 54
Boomer men and women aged 45 to 54 saw their incomes fall
Median income tops $60,000 for men aged 60 to 64 who work full-time
Among women who work full-time, median income tops $40,000
College bonus is big for Boomers
Black Boomers are most likely to be poor


Chapter 6. Labor Force
A growing share of 60-to-64-year-olds is in the labor force
Labor force participation rate falls with age among Boomer men
Labor force participation rate varies by race and Hispanic origin
Labor force participation rates are similar among women by race and Hispanic origin
Dual earners are the norm among Boomers aged 45 to 54
People aged 45 to 64 account for more than half of workers in some occupations
Many part-time workers want full-time jobs
Self-employment rises with age
Older Boomer men are staying on the job longer
Boomers account for few minimum-wage workers
Few workers are represented by a union
Expect more older workers in the labor force


Chapter 7. Living Arrangements
In middle age, a growing share of households are headed by women who live alone
Married couples head a minority of households among blacks
The nest is emptying for householders in their forties and fifties
Many Boomer households include children of any age
Women are increasingly likely to live alone as they age
Most Boomers are married
Among the middle aged, men are much more likely than women to be married
More than one in five adults have experienced divorce


Chapter 8. Population
Boomers slightly outnumber Millennials
Nearly three of four Baby Boomers are non-Hispanic white
Among the foreign-born, those from Mexico are the youngest
Immigrants aged 45 to 64 account for 19 percent of the 2011 total
Half of adults who speak Spanish at home cannot speak English very well
The Northeast is home to just 19 percent of Boomers


Chapter 9. Spending
Household spending peaks in the 45-to-54 age group
Householders aged 45 to 54 spend nearly twice as much as the average household on education
Householders aged 55 to 64 spend 47 percent more than average on other lodging


Chapter 10. Time Use
Time at work peaks in middle age


Chapter 11. Wealth
Net worth peaks among householders aged 55 to 64
The value of retirement accounts is modest, even in the older age groups
Median housing value peaks in the 45-to-54 age group
Education loans are common among young and middle-aged householders
Most workers are not planning on an early retirement

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