Inside Track
Census Bureau Forecasts Older Americans Will Outnumber Children
The U.S. Census Bureau released data from its 2017 National Population Projections on March 13 revealing an important demographic turning point in U.S. history. The report noted that by 2030, all Baby Boomers will be older than age 65. This will increase the size of the older population such that one in every five U.S. residents will be of retirement age.
“The aging of Baby Boomers means that within just a couple decades, older people are projected to outnumber children for the first time in U.S. history,” the release said, quoting Jonathan Vespa, a demographer with the U.S. Census Bureau. “By 2035, there will be 78.0 million people 65 years and older compared to 76.4 million under the age of 18.”
The Census Bureau’s projections indicated that the 2030s will be a “transformative” decade for the U.S. population in several respects. Notably, the population is expected to grow at a slower pace, age considerably, and become more racially and ethnically diverse.
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