In the next decade the census bureau expects the population will increase by 18.6 million. 15.3 million of that will be those 65 and older.
Massive Wave of Boomer Retirement Underway
The first chart highlights the current wave of boomer retirements. Covid and a soaring stock market is goosing the trend.
Age Group Percentages
Census Bureau Projections For 2022
- As the nation prepares to ring in the new year, the U.S. Census Bureau today projected the U.S. population will be 332,403,650 on Jan. 1, 2022.
- This represents an increase of 706,899, or 0.21%, since New Year’s Day 2021, and 954,369, or 0.29%, since Census Day (April 1) 2020.
- In January 2022, the U.S. is expected to experience a birth every nine seconds and one death every 11 seconds. Meanwhile, net international migration is expected to add one person to the U.S. population every 130 seconds. The combination of births, deaths and net international migration increases the U.S. population by one person every 40 seconds.
- The projected world population on Jan. 1, is 7,868,872,451, an increase of 74,235,487, or 0.95%, since New Year’s Day 2021. During January 2022, 4.3 births and 2.0 deaths are expected worldwide every second.
The above stats from Census Bureau Projects U.S. and World Populations on New Year’s Day.
Looking ahead to the next decade the percentage of those 60 and over will rise from 23.29% to 25.93%.
Meanwhile, the prime working age population age 20-59 declines from 52.06% to 50.75%.
And this is happening with public union pension plans severely stressed despite huge stock market gains.
This article was originally published by MishTalk.