Baby boomer es un término usado para describir a las personas que nacieron durante el baby boom, que sucedió en algunos países anglosajones, en el período momentáneo y posterior a la Segunda Guerra Mundial, entre años 1946 y 1965.
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Changing demographics will create potential opportunities for Latino workers in the future – but only if Latinos can boost their educational attainment and surmount barriers to career readiness. That’s the takeaway from a new report on the Latino “skills gap” by the Society for Human Resource Management (SHRM) and the Congressional Hispanic Caucus Institute (CHCI).
The report highlights two clear trends for the second half of the 21st century. Members of the baby-boom generation will be entering retirement in record numbers, creating a void in the American workforce. Simultaneously the 80 million young people known as millennials will be entering the workplace – and that’s where Latinos factor in.
“As the fastest-growing U.S.-born ethnic segment,” the report states, “Hispanics are a culturally rich, highly motivated demographic poised to address the void left by the baby boomers.” The report suggests that, with more tools and resources, Latinos could be a boon to employers, potentially helping to address the skills shortages in areas like STEM (Science, Technology, Engineering, and Math) fields.
According to the report, economic and demographic trends are driving the need for companies to harness the nation’s growing Latino population, estimated at 55 million. While Latinos currently make up about 16 percent of the U.S. labor market, they will account for one out of every two new workers entering the labor force by 2025.
“Our community must do something so that our young people are prepared for the job market of the future, so that they can embark on their careers and be successful,” CHCI President and CEO Domenika Lynch told NBC News. “We are committed to the idea that this report does not become another ‘white paper’ in Washington. We want it to be a call to action, and to show companies what they can do towards recruiting, training, and retaining Latino workers.”
“Our community matters, and right now is the perfect time to showcase this kind of research,” Lynch said.
Lynch hopes that more Latino students will consider jobs in the STEM fields, while noting that this can require an early and ongoing commitment. In her former position at the University of Southern California, she said, some corporate recruiters would come to her seeking to meet with freshmen.
“To these recruiters, reaching out to someone during their senior year was already too late,” she explained. “They wanted to help get students internships, mentoring, and exposure to corporate culture before their senior year.”
The report notes that at present, both the business world and the Latino population face challenges with regard to the future job market.
On the employer side, many jobs go unfilled because companies cannot find workers with the skill-sets to fill them. There is also a mismatch between the skills that employers seek and the skills that millennials have as they enter the labor force.
The report presents a mixed picture of the outlook for Latino workers of the future. There is little need for concern among employers about English proficiency among Hispanics. English proficiency is on the rise among Latinos, driven by those who are U.S.-born. Hispanics are also entering college in record numbers. However, Latino college completion rates still lag behind whites, Asians, and African-Americans. Among Hispanics ages 25-29, only 15 percent have a bachelor’s degree or higher.
To Deborah Santiago, chief operating officer of Excelencia in Education, this reality should concern all Americans. “This is the future workforce; if Latinos are limited in what they can achieve, this limits our entire economy,” she said. “So whether out of enlightened self-interest, or to be competitive globally, we have to be concerned with Latino college completion.” To Santiago, the policy solution is not just increasing Latino college completion. Rather, it is accelerating Latino college completion.
Santiago believes that policymakers must frame the state of Latino educational attainment and workforce readiness with care. “People do not invest in crisis, they invest in opportunity,” she stated. “With a crisis, you just throw money at a problem and hope it goes away. Latino educational attainment should be seen as something with potential, as something with a significant ROI (return on investment) – that is an incentive for people to act.”
Although higher educational attainment is the best way for Latinos to boost their career readiness, here Latinos face some hurdles not encountered by other groups. Hispanics are more likely than their white peers to be the first in their family to attend college. College readiness for Hispanics is low, with 38 percent of Latinos taking at least one remedial course when they start college. And many Latinos are not aware of or are confused by the college application process; the report says that Latinos have the highest level of unmet financial need, when compared to other demographics.
Alexander Alonso, senior vice president of Knowledge Development and Certification at SHRM, points out that the new report is unique in several ways. “This one accounts for the changing nature of the workforce and takes into account the broader trends in the workforce,” he said. “It looks at where skills are needed, and where Latinos are earning relative to those skills. It also projects the outcomes we will see if we don’t do something about the skills gap issue.” Unlike other reports on Latinos and education, he says, this one highlights specific strategies and programs that can be used to change the current paradigm.
The SHRM/CHCI report recommends several strategies to improve college and career readiness among Latinos. These include structured pathways – where colleges partner with high schools to show prospective students the paths they need to follow to obtain certain jobs, partnerships between colleges and local industries to meet local employer needs, and mentoring programs to help Hispanics navigate their careers.
For employers, the SHRM/CHCI report recommends harnessing the power of diversity, through training programs and top-down diversity targets; engaging Hispanic millennials, who are more likely than other millennials to look for a company where they can stay for a long time; and increasing training programs and apprenticeships that can help entry-level workers access potential employment.
Alonso told NBC News that, on the question of whether Latinos would be ready for the 21st century workforce, he saw reason for optimism.
“We are seeing shifts in the way organizations are spending money on training and development, and in the way they are shifting to help employees acquire skills,” he said. “This is a big shift for us; typically we see the level of money spent on training and development as declining or holding steady.” Instead, lately he has seen companies building partnerships with colleges and increasing training budgets to help build skills in populations like Latinos.
“These trends give me great hope,” Alonso said, “because we are now seeing things that can benefit not only employers but also employees and their communities.”
The Society for Human Resource Management describes itself as the world’s largest HR professional society, with members in more than 165 countries.
The Congressional Hispanic Caucus Institute is a non-partisan, non-profit organization that provides leadership training and educational opportunities to Latino youth. Both President Obama and Hillary Clinton will be speaking at the CHCI’s 39th annual awards gala on Thursday, to mark the start of Hispanic Heritage Month.
Baby boomers is a time in American history that has been defined by the rise in the birth rate. It's a culture of people that have had so much to do with change and the way the United States currently is that the generation will always be remembered in American history.
Baby boomers are usually defined as anyone born between 1946 and 1964, but it is so much more than that. There was a spike in the birth rate for all of those years until it finally leveled out and went back to normal. But there they were 77 million new people in the world. Look what happened before that time. World War II was considered the modern war. Battles were fought on so many fronts and people were dying who were not even close to the battle field.
There was famine and diseases. There was lack of healthcare because doctors and nurses had to give out their care elsewhere. Once the war was over, so much changed. Technology erupted, the healthcare system got better and families were together. The aftermath of WW2 in many countries created a marketplace for foreign companies. Countries that were ravished by the war needed to be rebuilt. They needed food, services and goods for their people.
The American economy grew for the next decade because of the amount of work that needed to be done. There were jobs for people and better money for families. More money allowed families to consider growing, and looking at the numbers that is exactly what they did.
Although baby boomers are a huge category, they are two subcategories for baby boomers. The first categorizes those born between 1946 to 1955. These people were greatly affected by the Vietnam War because anyone born after 1955 was not subject to the draft. This group is defined as free-spirited and indulgent. They are regarded for their individualism and wanting to help social causes.
The other group are those that were born after this time and is called Generation X. The memorable events of this group was not so much Vietnam War, but Watergate, the Cold War and gasoline shortages. This is the group with the mistrust of government. This is the generation that voted for radical change and are generally cynics. However, both of these groups grew up knowing their enemies as communists.
There is a difference in the two groups, which is why it is unfair to define a 20-year period. Even though the birth rate was high during these years, both were affected by different events and have been characterized in different ways.
The current political and social culture of the United States is dominated by baby boomers. Presidents Bill Clinton and George W. Bush were the first two presidents born in this generation, both were born in 1946. Many of their beliefs are those of the baby boomer generation. Some were just more deeply characterized in others. It believed that the baby boomer generation will hold Congress until 2015 and the White House until 2021. They will continue to have a say in the advancement of the country for several more years.
Many cultural icons are also part of this generation. They have created movies, music and other entertainment with ideas of the baby boomers. Steve Spielberg created movies with apparent Cold War undertones in his movies and directed movies that showed the horrors and pitfalls of war. He brought about movies that served as more than entertainment but a message of his generation.
Baby boomers are just one generation in American history that have made a difference in the country. They helped gain rights for many different group such as civil rights, women's right and gay rights.
Millennials may have surpassed Baby Boomers as the largest living generation but Baby Boomers still hold the spending power. America’s 75 million Baby Boomers, between the ages of 52 and 70, control about 70 percent of all disposable income in the U.S. according to Nielson. On top of that, Boomers are set to inherit about $15 trillion dollars over the next 20 years. With that kind of financial might, analysts expect Baby Boomers will continue to ignite a consumer spending boom over the next several years.
“They can sustain and be a strong driver of the consumer economy over the next five to ten years especially the upper-income households. They have the money to spend. It’s a different mindset of saving before and now saying, I’ve got to spend it while I’m here,” says Doug Hermanson, principal economist at Kantar Retail.
Exploring the World
So where are Boomers spending their extra money? Hermanson says one big area is travel. AARP estimates Baby Boomers spend more than $120 billion annually on leisure travel. Whether it is visiting family members, taking a cruise or traveling to a dream destination, AARP found in a recent survey that a whopping 99 percent of Baby Boomers plan to travel this year. Once-in-a-lifetime international trips are especially popular among Boomers along with warm destinations including Florida, Las Vegas, the Caribbean and Mexico.
Beneficiaries of the travel boom may include airlines such as Delta Air Lines (DAL), United Continental (UAL) and JetBlue Airways (JBLU) as well as cruise line operators including Royal Caribbean (RCL). Travel websites TripAdvisor (TRIP), Priceline (PCLN) and Expedia (EXPE) also stand to benefit.
Another large area of spending for Boomers is healthcare. Baby Boomers want to keep an active lifestyle and remain young-spirited. To help facilitate the goal, demand for pharmacy prescriptions, vitamins and other health-related products is expected to increase. Boomers already outspend Millennials and Generation Xers on healthcare and medicines annually according to Kantar Retail.
Investing in Health
Hermanson says small box retailers, not large super centers, including CVS Health (CVS) and Walgreens (WBA) stand to benefit from the pick-up in healthcare spending among Boomers. “It’s those stores that are easier to navigate, more convenient, more familiar and in many cases, stores with better customer service that will appeal to Boomers,” he says.
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Baby Boomers are also shelling out big bucks on pets and that is helping to fuel the growth in the pet industry. Boomers spent nearly $30 billion on pets in 2014, accounting for 45 percent of all pet spending in the U.S. Analysts say Boomers spend more on pets each year compared to their younger counterparts and the spending boom is likely to continue.
“They have more time on their hands. They are not working and it makes more sense. They still want that full house, something to parent to some degree so pet spending and having pets is still going to be a huge part of the Boomer lifestyle,” Hermanson says.
Pet retailers including PetSmart (PETM) may see sales grow as well as healthcare providers such as VCA (WOOF). Hermanson says grocery chains and other retail stores are making a push to expand their pet offerings and should also benefit from higher Boomer spending.
Improving the Home Experience
Baby Boomers are spending more on their homes too especially when it comes to home improvement. Kantar Retail found Baby Boomers spend more on home improvements and repairs annually compared to any other age group. Retailers that offer home improvement and repair services including Home Depot (HD) and Lowe’s (LOW) stand to be among the winners with Boomers.
Boomers are also dishing out more to watch their favorite television programs at home. A Gallup survey found 40 percent of Boomers said they were spending more on cable and satellite television. Boomers are also not rushing to cut the cord like many Millennials. Only 15 percent of Boomers said they plan to switch from cable or satellite television to an online streaming option according to a Nielsen survey. This is welcome news for cable and satellite tv providers including Charter Spectrum (CHTR), Comcast (CMCSA) and DirectTV (DTV).
September 10, 2016
OPINION by DIANE GRIFFIN-DUENOW
Dear millennials: If you think this presidential election is a “joke” and will not affect you, listen-up!
We baby-boomers are retiring and past our earning years. You, on the other hand, are just getting started as wage earners and the bulk of the purchasing public in America.
The biggest two issues in this election are “saving the planet” and the Supreme Court – both of which effect you and your children directly.
The current Supreme Court has given us Citizens United, which allows unrestricted and unreported money in politics. This is why you think your vote doesn’t count. Corporations are allowed to pour money into campaigns (e.g. Koch Brothers).
There will be at least two vacancies on the Supreme Court soon. Who do you want representing you? Do you want multi-national corporations running the world and making democracy irrelevant?
Second, the very future of the planet is at stake. Republicans deny climate change, when the world’s scientific community agrees that climate change is real and time is running out for you and your children.
You must vote in this critical election. Your future is at stake and the future of your children’s survival is melting away with the glaciers.
Wake-up, inform yourselves and get to the polls!
Diane Griffin-Duenow has lived in San Luis Obispo for 40 years. Before her retirement, she taught English at San Luis Obispo High School.
This video is for Boys & Girls, Hope you enjoy reminiscing about a simpler times of life. If you don’t like the classical music soundtrack by Offenbach “Can Can” Mute the volume…
- Millennials may snag much of manufacturers’ attention these days, but baby boomers have their own perceptions and attitudes toward food that manufacturers should keep in mind, according to a study from the International Food Information Council (IFIC) Foundation. Boomers are more apt to consider whole grains (80% vs. 70%), plant proteins (75% vs. 63%) and omega-3 fatty acids (71% vs. 59%) as healthy, compared to millennials.
- Boomers are also more inclined to seek out foods with different health benefits, such as weight management, cardiovascular health and digestive health. Millennials, on the other hand, trend toward mental health, muscle health and immunity.
- Nine in 10 of boomers who recently adjusted their beliefs on added sugars said they have reduced their intake. Boomers were more likely to view added sugars as less healthful than they did before compared to millennials (37% vs. 29%). Boomers were also more likely to consider low-calorie sweeteners as a factor in weight management than millennials (31% vs. 14%) and the population as a whole (18%).
With all of these differences in mind, manufacturers realize they could have very different consumers to please with the same product and marketing strategies. If they plug one health benefit, one generation could pass the product by. Promote another health benefit, and the other generation walks. It’s a key reason why experts say manufacturers should consider segmenting out their ideal consumer and developing the product and marketing materials specifically for that one demographic. Appealing to a broad audience can backfire, especially among generational divides in food perceptions.
The study’s findings reveal compelling implications for manufacturers of better-for-you foods, such as that boomers trend toward whole grains, plant proteins and omega-3s more than millennials. Often manufacturers market those health benefits toward a younger health-centric crowd. But companies may not realize that they could have a more loyal audience in an older demographic, not to mention a generation with considerable buying power.
The viewpoint on sweeteners is a sticking point for manufacturers as they contend with new dietary guidelines that recommend limiting sugar consumption and a new Nutrition Facts panel that will require them to label added sugars in their products. Low-calorie sweeteners have taken a hit from health-conscious consumers, including millennials, who say they’d rather pay more for better-for-you sweeteners, more than any other generation, according to a Sweetener360 report.
International Food Information Council Foundation:
Boomers Set Their Own Food Standards: Survey Shows How Generations Differ in What They Look For in Food
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Dollar Photo Club
Baby boomers have not reproduced enough children to replace themselves, thus the number of taxpaying people has shrunk. This raises an interesting question: Will Social Security be around for those who are students now?
The taxpaying workers of today pay Social Security benefits to the current retirees. Unfortunately to say, the demographics of the baby boomers and present students are against our favor 2: 1. Meaning for every one retiree there will only be two taxpaying supporters. Unlike earlier times when the baby boomers just began, they were paying social security benefits at a ratio of 16: 1. Clearly this is an enormous difference and if this pattern continues the possibility that Social Security will not be around for current students seems imminent.
Another piece of evidence supporting the theory that Social Security will go bankrupt is the government's borrowing of these funds to pay for other obligations. The government takes in more money than it puts out and uses this money in other areas of need, such as military expenses. Once the fund is exhausted the government will have to repay their borrowing which could mean the general shrinking of the government. To add to this reasoning the life expectancy of people is longer. People are now living until their late 70's due to the major advances in health and medical treatments. This means that retirees will be receiving Social Security benefits longer than they ever have before, considering that the earliest age they may retire at is 62.
Although it may seem like a losing battle, there are some things that the government can do to help ease the likelihood of the Social Security system from going bankrupt. An obvious decision would be raising Social Security taxes, but this could possibly be a politically unpopular choice. The decision to raise Social Security taxes would be a significantly high increase at that and in addition there could be a cut in benefits too. Another possible answer could be privatizing Social Security. The downside is that switching to a privatized system would be very expensive to start and could possibly be worse than just sticking with the current system. The government could also increase the age of when a person can start receiving Social Security. Seeing that people are living longer, raising the age does not seem so unfair.
Because people are aware of this Social Security crisis, people can start to plan for it on their own. Setting up a 401 (k) is a way of saving directly for retirement by having a portion of their earned money sent to their separate 401 (k) account. Unfortunately, not all employers offer this option to their employees. Another governmental action that could be taken is forcing those who earn + $ 97,000 a year to begin paying Social Security taxes.
The question is still raised as to whether there will be money in the system for students today when they are of retiring age after the baby boomers. I do not believe that the government would continue to give out full benefits until the fund runs out completely, leaving it bankrupt by the time college students are of retiring age. Rather they should reduce the promised benefits to a percentage that would allow longevity of the account until the baby boomers pass through the system, and the demographics are more stable. Although by the time the current college student generation retires, I do not think that they will be receiving full benefits either. It will take time for the system to regenerate itself to full operation.
The thought of Social Security benefits not being available to students today due to the baby boomers is a scary thought. Even though the 2: 1 demographics, as of right now, are against us there are several ways that the government can help soften the blow of the possible bankruptcy by the time current students are retired. They can do many things from raising Social Security taxes, start repaying their debt, to raising the age of retirement. Many people might not like these solutions, but people also need to realize that the hard times need to come first in order for the situation to mend. "The pig in the snake" will not stay in the system forever.