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Issue: Boomers and Millennials
Boomers and Millennials
By: Heather Kerrigan
Pub. Date: October 22, 2018
Access Date: July 1, 2022
DOI: 10.1177/237455680431.n1
Source URL: http://businessresearcher.sagepub.com/sbr-1946-108166-2906467/20181022/boomers-and-millennials
©2022 SAGE Publishing, Inc. All Rights Reserved.©2022 SAGE Publishing, Inc. All Rights Reserved.
Are older workers holding back the next generation?
Executive Summary
The composition of the U.S. workforce is changing dramatically. People are living longer and healthier lives, allowing them to work beyond
what was once considered a typical retirement age. At the same time, younger workers are trying to gain a foothold in a job market that
increasingly values both experience and credentialing, even for entry-level positions that may not have required a degree in the past. This
confluence of trends raises several issues, including whether Baby Boomers are displacing Millennials in the workforce or holding them
back from advancement, the impact of underemployment on Millennials, the cost to employers of an aging workforce and what will happen
once Boomers begin to retire in greater numbers.
Among the key takeaways:
Baby Boomers represent one-quarter of the labor force, and the average retirement age is higher than it was two decades ago.
Many Millennials are overskilled or overeducated for the jobs they are taking, which can have long-lasting effects on future
employment prospects and earning potential.
Delayed retirements have both positive and negative effects for employers. Although they are able to retain experienced staff, they
incur increased costs to maintain these older workers and must plan for the impending brain drain when they do retire.
Full Report
College graduate Andrea Ledesma, 28, at work last year in a Milwaukee pizza restaurant. Many Millennials face
underemployment, which can have long-lasting effects. (AP Photo/Carrie Antlfinger)
For much of the 20th century, the working life of most Americans was pegged to a more or less fixed retirement age. This work cycle has
been disrupted by four interrelated developments: lengthening lifespans, rising education levels, restructured Social Security and
employee retirement plans and the epochal 2007-09 recession, which jeopardized many people’s financial security.
The “silver tsunami,” the impending Baby Boomer exodus from the workforce, slowed to a trickle. And that happened just as Millennials
were leaving college, saddled with a sour economy and job prospects for which many were woefully unprepared, creating the stereotype of
the twentysomething barista with a master’s degree.
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The changes wrought by these trends are clearly reflected in government economic data. For a large part of the last century, those ages
55 and older made up the smallest segment of the U.S. workforce, according to the U.S. Bureau of Labor Statistics (BLS). That began to
shift in the 1990s, and by 2003, this age group was no longer the thinnest slice of the labor pie. 1
More Americans Working Longer
Number of employed ages 65 and older, in millions, 2008-18
Source: “Labor Force Statistics from the Current Population Survey,” U.S. Bureau of Labor Statistics, August 2018, https://tinyurl.com/ybq4jlvb
The number of people in the United States ages 65 and older who are still working has risen steadily in the last
decade.
And this trend is likely to persist. Over the next six years, the BLS projects, the labor force participation rate will increase the most for those
over age 65, while remaining relatively stable for most other age groups. 2 BLS projections indicate that by 2026, of the more than 167
million people in the U.S. labor force, 24.8 percent will be 55 and older, compared with 22.4 percent in 2016. At the same time, the labor
force share of those ages 25 to 34 and 45 to 54 is expected to decrease, while those ages 35 to 44 will see a moderate increase. 3
U.S. Workforce Getting Older
Labor force share, by age group, 1996, 2006, 2016 and projected 2026
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Source: “Employment Projections – 2016-26,” U.S. Bureau of Labor Statistics, Oct. 24, 2017, Chart 2, https://tinyurl.com/y7fhn33n
The proportion of the U.S. labor force ages 55 and older nearly doubled between 1996 and 2016.
The aging of the U.S. workforce raises a number of questions, including whether older workers are displacing younger workers, whether
Boomers and Millennials will continue to find employment opportunities suitable for their needs and skills and how employers will balance
the challenges associated with the changing face of the workforce.
An Aging Workforce
Americans are living longer and are healthier than in previous generations, thus increasing the length of time they can remain in the
workforce. Boomers, usually defined as those born between 1946 and 1964, are delaying retirement for a variety of reasons, including a
desire to remain productive, a need for health insurance, inadequate retirement savings and the rising age at which full Social Security
benefits can be claimed.
The labor force participation rate for those ages 55 and older rose steadily from 1995 to 2012 from about 30 percent to 40 percent, and
has remained more or less steady since then, according to BLS data. 4 Today, 41 million Boomers are in the labor force, including both
those with jobs or looking for employment – about one quarter of the labor force, according to an analysis by the Pew Research Center in
Washington. 5
The number of Boomers remaining on the job is pronounced in positions that require a higher level of education and are less physically
demanding. “It’s far easier to work at older ages if you’re at a desk job,” says Craig Copeland, a senior research associate at the
Employee Benefit Research Institute (EBRI), a Washington think tank that studies employment issues.
The aging of the scientific community has been a particular focus of study for researchers, including Ohio State University’s David M. Blau,
a labor economist, and co-author Bruce A. Weinberg, a professor of economics and public administration. They wrote that one cause of
longevity in scientific fields was the lifting of the mandatory retirement age for university faculty in 1994. 6
In other sectors, Boomer job growth is outpacing that of Millennials. A study by the labor market analytics firm EMSI and the employment
website CareerBuilder looked at the growth rate in computer and math jobs from 2007 to 2013. By 2013, Millennials made up 32 percent
of this workforce, while Boomers made up 11 percent. However, employment for Boomers in this area increased by 20 percent during this
period, while for Millennials it grew just 2 percent. 7
An increasing number of Boomers also are entering the gig economy – a labor market made up primarily of temporary and freelance
positions – and, according to the Prudential Insurance Co., are finding success. According to the company’s study, Boomer gig workers
8
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make $43,600 per year, while their Millennial counterparts earn around $27,500. 8 Boomers may benefit in the gig economy from better
professional networks and connections to those in senior positions who make decisions about hiring contractors, two managers for the
networking website LinkedIn wrote in Fast Company magazine. 9
Millennials, generally those born between the early 1980s and mid-1990s, make up more than one-third of the U.S. workforce. 10
However, unlike previous generations, they are finding it increasingly difficult to launch their careers and frequently find themselves either
unemployed or pushed into jobs for which they are overqualified.
Younger Workers More Likely to Be Jobless
U.S. unemployment rate, by age group, 2017
Source: “Employment status of the civilian noninstitutional population by age, sex, and race,” U.S. Bureau of Labor Statistics, 2017,
https://tinyurl.com/y7soy7vp
Unemployment was higher among 20-to-24-year-olds in 2017 than in any other age group.
Underemployment has a long-term impact on job prospects and earning potential. A study by Burning Glass Technologies, a labor market
analytics company, and the Strada Institute for the Future of Work, a research organization based in Indianapolis, found that 43 percent of
college graduates are underemployed in their first job. After five years, 35 percent were still underemployed, and 10 years after graduation
almost one-third remained in that category. 11
Underemployment Causes Lasting Impact
Rate of underemployment over time, per 100 people
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Source: “The Permanent Detour: Underemployment’s Long-Term Effects on the Careers of College Grads,” Strada Institute for the Future of Work and
Burning Glass Technologies, May 2018, p. 17, https://tinyurl.com/yaw4pwf5
Those who enter the workforce in positions that underuse their skills often remain underemployed through
much of their working lives.
12
On average, the underemployed earn $10,000 less per year than those in college-level jobs.
Although underemployment is not a new phenomenon, a study by the Federal Reserve Bank of New York concluded that the rate of
underemployment is significantly higher for Millennials who graduated around 2012 and “the quality of the jobs held by the underemployed
has declined, with today’s recent graduates increasingly accepting low-wage jobs or working part time.” 13 According to Michelle R.
Weise, the chief innovation officer at Strada, underemployment is less pronounced in STEM (science, tech, engineering and math) fields,
but it affects women more heavily than men in nearly all sectors of the economy.
Economists have competing opinions on why college graduates are finding it hard to start their careers. A 2016 study by two Georgetown
University scholars concluded that Millennials struggle because the economy has not created enough jobs with pay levels that allow
college graduates to move into the middle class. 14 The Strada study pointed to “upcredentialing” by employers, a process of demanding
degrees for positions that did not require them previously, and that employers are holding jobs open longer to find a perfect candidate,
rather than offering on-the-job training. 15
Other researchers hint that older workers remaining in jobs longer could hurt advancement potential for those in Generation X, the
generation between Boomers and Millennials, as well as restricting hiring opportunity for Millennials.
“To the extent one believes that the number of jobs is relatively fixed, then adding more labor, delaying retirement, hurts advancement. To
the extent that one believes adding labor expands growth and opportunities, it doesn’t hurt,” says Peter Cappelli, director of the Center for
Human Resources at the University of Pennsylvania’s Wharton School. “My sense is in the short term, at least, it does hurt.”
According to Copeland of EBRI, this is borne out somewhat by BLS data showing that from the late 1990s through 2008 Boomer
employment was growing while the workforce participation of younger workers was falling. However, he cautions, looking at labor force
participation over a longer period of time, the rate tends to increase for most generational groups.
Varying Effects on Employers
The longer working lives of Boomers present employers with a number of challenges. They must grapple with the need to accommodate
older workers while planning for their eventual retirement, plus simultaneously recruit and train younger employees and attempt to retain
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those in the middle. Employers’ efforts to address these concerns range from developing training and mentoring programs to ensure
institutional knowledge does not walk out the door to developing benefits that appeal to all age groups and dealing with the cost of
maintaining an older workforce.
According to a 2017 study by Prudential, an older worker’s delayed retirement costs an employer $50,000 per year per employee. 16 A
portion of this is the differential pay rate between a new hire and the older worker, but it also includes increasing health care costs. Those
ages 55 and older accounted for 28 percent of the U.S. population but more than 50 percent of health care spending in 2015. 17
Health Care Spending Rises With Age
Share of health care spending and share of population, by age group, 2015
Source: Bradley Sawyer and Nolan Sroczynski, “How do health expenditures vary across the population?” Peterson-Kaiser Health System Tracker, Dec.
1, 2017, https://tinyurl.com/yao5fn4a
Those ages 55 and older made up about 28 percent of the population but accounted for more than half of U.S.
health care spending in 2015.
For employers, there also is the productivity question. Research is rife with examples on both sides of the question of whether older
workers are less productive than younger employees. A 2013 report by Gary Burtless, an economist with the Brookings Institution, a
Washington think tank, found no evidence of declining productivity for older workers. “Using one standard benchmark for measuring
individual worker productivity – hourly wages – workers between 60 and 74 are currently paid more than an average worker who is
between 25 and 59,” he wrote. 18
Burtless argued that the expectation that older workers were less productive was probably fueled by a perception that older individuals
were less healthy, less educated and less skilled for today’s job market. While these images may be generally accurate, they do not
19
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19
necessarily apply to older people who continue to work, Burtless wrote.
Economist Mark Zandi of Moody’s Analytics, on the other hand, argued that U.S. productivity is slowing as the workforce ages, and that
better training for older employees could arrest this trend. 20
Although Millennials are sometimes stereotyped as lazier than older workers, a growing number of studies find that Millennials are actually
highly productive. In a 2017 Microsoft study, 93 percent of Millennial respondents reported that productivity was a key to happiness. 21 A
2016 study done for Project: Time Off, a group that advocates greater use of vacation time, linked Millennial productivity to the fact that
Millennials are less likely than other age groups to use time off even though they earn less vacation time than other groups. 22
Millennials Reluctant to Take Vacation
Reasons Millennials and Boomers do not take time off, by percentage
Source: “ New Survey: Millennial Attitudes Making America’s Vacation Problem Worse,” Project: Time Off, 2016, https://tinyurl.com/y7o4nzc3
Millennials are twice as likely as Baby Boomers to pass up taking time off because they want to show dedication
to their job.
Among the biggest unknowns for employers are what will happen as Boomers retire and how to prepare for it. A talent gap is a possibility,
one that holds implications for both employer and employee. “I think the fact that employers are looking for specific work experience is very
hard for some of these Millennials to achieve,” says Strada’s Weise. Although 87 percent of recent graduates consider themselves
prepared to enter the workforce, according to the employment data company PayScale, only about half of hiring managers agree, with
most believing grads significantly lack the soft skills needed for employment. 23 Weise suggests internships, apprenticeships or more on-
the-job training could address this concern.
But, according to Cappelli of Wharton, employers are not currently grooming upcoming workers to fill the gap. “There is little systematic
development of younger talent, and the companies that do it have always done it,” he says.
Looking at the scientific community, Weinberg says, “There’s the potential for a lost generation. If they don’t get their careers established
in their 20s and 30s, they may not be able to establish themselves until later, and you have the potential for something like a hole in the
scientific community.”
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About the Author
After graduating from The George Washington University, Heather Kerrigan started her journalism career at Governing magazine,
reporting on state and local politics and policy, with a focus on the public workforce, the environment, health care, education and
technology issues. Since co-founding River Horse Communications, Heather has offered freelance editorial services to multiple outlets,
including blogging for two government-focused publications. She is the author of the book “Retire Rich With Your 401(k) Plan.” Her
previous reports for Business Researcher were on the retirement gap and the on-demand economy.
Chronology
1946-2000 From Boomers to Millennials.
1946 The first members of the Baby Boomer Generation are born, according to the U.S. Census Bureau.
1965 Generation X begins, according to many demographers.
1980 The first 401(k) is introduced. This defined-contribution retirement savings vehicle will begin to supplant employer-
sponsored defined-benefit retirement plans, which are often more lucrative than 401(k)s.
1981 The first members of the Millennial Generation are born, according to many demographers.
1983 Congress revises the Social Security Act, gradually increasing the full retirement age from 65 to 67 by 2027.
1991 The labor force participation rate of those ages 25 to 54 begins declining slightly. In coming years, it will stabilize at
times but not grow.
2000-Present Recession hits Millennials hard.
2000 The oldest Millennials graduate from high school and begin moving into the labor force or on to college.
2007 The most severe recession in the post-World War II era begins in December. It leads to the loss of an estimated 8.8
million jobs, according to the U.S. Bureau of Labor Statistics (BLS).
2009 The recession ends in June, according to the National Bureau of Economic Research, the official arbiter of periods of
recession.
2011 The number of Baby Boomers turning 65 reaches 10,000 per day.
2012 The labor force participation rate for those ages 55 and older hits a high of 40.6 percent and then begins to level off.
2015 According to the BLS, the U.S. unemployment rate drops to 5.0 percent, near its pre-recession level, in the fourth
quarter of the year.
2018 Millennials will experience lower levels of wealth than older generations over their lifespans and may not be able to fully
recover from the recession’s impact, the Federal Reserve Bank of New York reports.
Resources for Further Study
Bibliography
Books
Burke, Ronald J., Cary L. Cooper and Alexander-Stamatios G. Antoniou, “The Multi-Generational and Aging Workforce: Challenges and
Opportunities,” Edward Elgar Publishing, 2015. Experts discuss the changing American labor force, its challenges, opportunities and how
to work and manage within it.
Taylor, Paul, “The Next America: Boomers, Millennials, and the Looming Generational Showdown,” PublicAffairs, 2016. A Pew Research
Center senior fellow describes how the United States is shifting – socially, politically and demographically – due to current generational
conflicts.
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SAGE Business Researcher©2022 SAGE Publishing, Inc. All Rights Reserved. Articles Carmichael, Sarah Green, “Millennials Are Actually Workaholics, According to Research,” Harvard Business Review, August 17, 2016, https://tinyurl.com/jlly8ju. A Harvard Business Review editor looks at studies on Millennial attitudes toward vacation and time off. Fry, Richard, “Millennials are the largest generation in the U.S. labor force,” Pew Research Center, April 11, 2018, https://tinyurl.com/yc9fqz7c. A researcher parses the generational data on the U.S. labor force. Lutz, Jessica, “The Underemployment Phenomenon No One Is Talking About,” Forbes, July 21, 2017, https://tinyurl.com/y9maklsd. A writer explores the disparity in retirement savings between high- and low-income earners and the impact of rising life expectancy on retirement funds. Weise, Michelle, “First jobs matter: Avoiding the underemployment trap,” The Washington Post, June 1, 2018, https://tinyurl.com/y8l7vxss. The chief innovation officer at the Strada Institute for the Future of Work explains the negative long-term impact of starting a career underemployed. Reports and Studies “America’s Aging Workforce: Opportunities and Challenges,” U.S. Senate Special Committee on Aging, December 2017, https://tinyurl.com/y9ds7bsr. A Senate committee explores the challenges faced by the growing number of older Americans in the workforce. “The Permanent Detour: Underemployment’s Long-Term Effects on the Careers of College Grads,” Strada Institute for the Future of Work and Burning Glass Technologies, May 2018, https://tinyurl.com/yaw4pwf5. A report looks at the impact of underemployment on college graduates, including their long-term earnings and job prospects. “Why Employers Should Care About the Cost of Delayed Retirements,” Prudential Financial, 2017, https://tinyurl.com/ya65z28a. Researchers for the insurer estimate the high cost to employers when older workers choose to delay retirement. Blau, David M., and Bruce A. Weinberg, “Why the US science and engineering workforce is aging rapidly,” Proceedings of the National Academy of Sciences, April 11, 2017, https://tinyurl.com/y8z38hx5. Two scholars report on concerns surrounding an aging scientific workforce. Carnevale, Anthony P., Andrew R. Hanson and Artem Gulish, “Failure to Launch: Structural Shift and the New Lost Generation,” Georgetown University Center on Education and the Workforce, Sept. 30, 2013, https://tinyurl.com/y6v7wl9h. Researchers explore how shifts in the economy forced younger workers to delay their careers, but conclude that this delay is not being caused by Boomers remaining in the labor force longer. Copeland, Craig, “Labor Force Participation Rates by Age and Gender and the Age and Gender Composition of the U.S. Civilian Labor Force and Adult Population,” Employee Benefit Research Institute, May 8, 2018, https://tinyurl.com/yay2z73z. A review of Census Bureau workforce statistics and their possible implications. Sawyer, Bradley, and Nolan Sroczynski, “How do health expenditures vary across the population?” Kaiser Family Foundation, Dec. 1, 2017, https://tinyurl.com/y6vbznv3. Researchers explore the differences in spending on health care by demographics and overall health. The Next Step Underemployment Hoffower, Hillary, “The ‘lost generation’ of millennials born in the 1980s may never be as rich as their parents,” Business Insider, May 22, 2018, https://tinyurl.com/yckm3t7u. Millennials who entered the job market during and after the recession likely have found themselves still struggling to accumulate wealth several years later, according to a report by the Federal Reserve Bank of St. Louis. Sherman, Erik, “Underemployment Takes An Outsized Toll On The Economy, According To A New Study,” Forbes, Sept. 25, 2018, https://tinyurl.com/ybrs6nl7. Underemployment could be the root cause of low wage growth, in the United Kingdom as well as in the United States, according to a recent study by the U.S. National Bureau of Economic Research. Smith, Noah, “Why Millennials Are Sour on the Economy,” Bloomberg, Sept. 28, 2018, https://tinyurl.com/y8u9qstp. Chronic underemployment has left Millennials with a pervasive feeling of disappointment, says a Bloomberg columnist. Work benefits “The doctor is out: Many millennials choose convenient drop-in clinics over traditional doctor’s offices,” ABC News, Oct. 9, 2018, Page 10 of 13 Boomers and Millennials SAGE Business Researcher
©2022 SAGE Publishing, Inc. All Rights Reserved. https://tinyurl.com/y8prlhk5. Millennials are much more likely than Americans ages 50 to 64 to use alternative health care services, with one-third of Millennials saying they do not go to a primary care physician, according to a 2017 Employee Benefit Research Institute survey. Fox, Ashley M., “Why Millennials Hate ‘Retirement,’ And What They Actually Need To Do Financially,’” Forbes, Sept. 21, 2018, https://tinyurl.com/y97jthgq. Millennials thinking ahead to retirement should look into company options besides pensions, develop alternative income streams and cultivate independent investments, advises a former Wall Street analyst. Pandey, Erica, “The future of student debt: How employers might help,” Axios, Oct. 11, 2018, https://tinyurl.com/ycmkpq99. Some employers are responding to the student debt crisis facing Millennials by helping them pay off their student loans. Organizations AARP 601 E St., N.W., Washington, DC 20049 1-202-434-2560 www.aarp.org @AARP An organization focused on providing information and advocating for those ages 50 and older to help them live well in retirement. Brookings Institution 1775 Massachusetts Ave., N.W., Washington, DC 20036 1-202-797-6000 www.brookings.edu Public policy institute conducting research on domestic and global issues. Center for Human Resources, University of Pennsylvania Wharton 204 Steinberg Hall/Dietrich Hall, 3620 Locust Walk, Philadelphia, PA 19104-6302 1-215-898-2575 https://chr.wharton.upenn.edu/ Research hub for issues affecting human resources practitioners and vendors. Employee Benefit Research Institute 1100 13th St., N.W., Suite 878, Washington, DC 20005 1-202-659-0670 www.ebri.org Research organization working to enhance employee benefit programs and the public policy that supports them. Georgetown Center on Education and the Workforce 3300 Whitehaven St., N.W., Suite 3200, Washington, DC 20007 1-202-687-7766 https://cew.georgetown.edu/ Research institute studying the intersection of education, career readiness and workforce needs. National Bureau of Economic Research 1050 Massachusetts Ave., Cambridge, MA 02138 1-617-868-3900 www.nber.org Nonpartisan organization conducting economic research for businesses, academics and policymakers. Pew Research Center 1615 L St., N.W., Suite 800, Washington, DC 20036 1-202-419-4300 www.pewresearch.org Research institute seeking to provide evidence-based analysis on national and international issues. Society for Human Resource Management 1800 Duke St., #100, Alexandria, VA 22314 1-703-548-3440 www.shrm.org Organization working to advance the human resources profession through education, advocacy and thought leadership. Strada Education Network 9998 Crosspoint Blvd., Suite 400, Indianapolis, IN 46256 Page 11 of 13 Boomers and Millennials SAGE Business Researcher
©2022 SAGE Publishing, Inc. All Rights Reserved. 1-317-806-1200 www.stradaeducation.org Nonprofit organization dedicated to solving challenges in transitioning from college to career. U.S. Travel Association – Project: Time Off 1100 New York Ave., N.W., Suite 450, Washington, DC 20005 1-202-408-8422 www.projecttimeoff.com Organization focused on promoting the idea of using earned time off and increasing travel within the United States to benefit the economy, jobs, and employee well-being. Notes [1] Mitra Toossi and Elka Torpey, “Older workers: Labor force trends and career options,” U.S. Bureau of Labor Statistics, May 2017, Chart 1, https://tinyurl.com/y7q2smqc. [2] Ibid, Chart 2. [3] “Employment Projections – 2016-26,” Bureau of Labor Statistics, Oct. 24, 2017, Chart 2, https://tinyurl.com/y7fhn33n. [4] Craig Copeland, “Labor Force Participation Rates by Age and Gender and the Age and Gender Composition of the U.S. Civilian Labor Force and Adult Population,” Employee Benefit Research Institute, May 8, 2018, https://tinyurl.com/yay2z73z. [5] Richard Fry, “Millennials are the largest generation in the U.S. labor force,” Pew Research Center, April 11, 2018, https://tinyurl.com/yc9fqz7c. [6] David M. Blau and Bruce A. Weinberg, “Why the US science and engineering workforce is aging rapidly,” Proceedings of the National Academy of Sciences, Feb. 14, 2017, https://tinyurl.com/y8z38hx5. [7] “In Jobs Recovery, Boomers Make Up Growing Share of Workforce while Millennial Employment Lags,” CareerBuilder, June 5, 2014, https://tinyurl.com/y7s5cww7. [8] “Gig Economy Impact by Generation,” Prudential Financial, June 26, 2018, https://tinyurl.com/ybtyvoah. [9] Thogori Karago and Yu Liu, “Why Gen-Xers And Baby Boomers Are Beating Millennials At Freelancing,” Fast Company, Aug. 2, 2017, https://tinyurl.com/y9p6x2yg. [10] Fry, op. cit. [11] “The Permanent Detour: Underemployment’s Long-Term Effects on the Careers of College Grads,” Strada Institute for the Future of Work and Burning Glass Technologies, May 2018, p. 17, https://tinyurl.com/ybrur8c8. [12] Ibid. [13] Jaison R. Abel, Richard Deitz and Yaqin Su, “Are Recent College Graduates Finding Good Jobs?” Federal Reserve Bank of New York, Jan. 6, 2014, https://tinyurl.com/zbx9ct6. [14] Andrew R. Hanson and Artem Gulish, “From College to Career: Making Sense of the Post-Millennial Job Market,” The Georgetown Public Policy Review, April 29, 2016, https://tinyurl.com/y7d3fsj6. [15] “The Permanent Detour,” op. cit. [16] “Why Employers Should Care About the Cost of Delayed Retirements,” Prudential Financial, 2017, https://tinyurl.com/ya65z28a. [17] Bradley Sawyer and Nolan Sroczynski, “How do health expenditures vary across the population?” Kaiser Family Foundation, Dec. 1, 2017, https://tinyurl.com/y8gx9kcq. [18] Greg Burtless, “The Impact of Population Aging and Delayed Retirement on Workforce Productivity,” Brookings, May 31, 2013, https://tinyurl.com/yd9h7w2v. [19] Ibid. [20] Peter Coy, “Study Finds the Aging of the U.S. Workforce Is Bad for Productivity,” Bloomberg Businessweek, Aug. 8, 2017, https://tinyurl.com/yae6sqz9. Page 12 of 13 Boomers and Millennials SAGE Business Researcher
©2022 SAGE Publishing, Inc. All Rights Reserved. [21] “Survey – mastering your productivity in 2017,” Microsoft, Jan. 10, 2017, http://tinyurl.com/yavhdqce. [22] “New Survey: Millennial Attitudes Making America’s Vacation Problem Worse,” Project: Time Off, 2016, https://tinyurl.com/y7o4nzc3. [23] “2016 Workforce-Skills Preparedness Report,” PayScale, May 17, 2016, https://tinyurl.com/y7ozxv74. Page 13 of 13 Boomers and Millennials SAGE Business Researcher
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