"To know that you do not know is best ...and smacking yourself in the face with a cricket bat is not the smartest thing you could do on a weekend." - Ssshawnnn
century when unusual conditions are emerging due to huge retirement of baby boomers in Canada.?
What are the alternatives with the industry for hiring the best...
Baby Boomers 1943 to 1960.[9]
The Golden Boomers are Baby Boomers who are retired or will retire from an occupation or profession[10]. As the Baby Boomers...
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Baby boomers and usually most of the ... within the U.S. territories and Canada).
A. List 3 competitors make...
baby boomers will and already are leaving. A major perceived threat by scholars has been the fact that the generation following the baby boomers, the baby busters...
Baby Boomer Dilemma in Canada
• After WWII, from 1945 to 1960, there were about 28 births on average per 1,000 people in Canada: - these babies are known as the ‘baby boomers’
• But these baby boomers did not have many children of their own, and they did not have many grandchildren, either.
• By 1970, the birth rate in Canada had dropped to 17 births per 1,000 people
• Since 2000, it has been hovering around 11 births per 1,000 Canadians
• Baby boomers will leave the workplace in large numbers between now and 2025
Good Times
• 1960 to 1980 was the mass entry of baby boomers into the workplace
• number of workers earning a salary and paying taxes grew at a breathtaking rate
• The Welfare State experienced a rapid expansion
• We successively implemented hospital insurance, health insurance, low-cost college and university education, social services, public pension plans, more generous old age pensions and employment benefits, etc.
• Politicians had an easy time - money was no problem
• The huge addition to the tax revenue from the baby boomers allowed them to do a lot of great things
Problems…
• Baby boomers born between 1945 and 1960 are today between 45 and 60 yrs old
• In 2020, they will be 60 to 75 years old - most of them will have begun their retirement
1. Less tax revenues
• In 2006 51% of Canada's total population was working.
• By 2020, when the baby boomers' departure will be underway, only 49% of the population will be working (if the employment rates remain stable)
• What will the impact be on the government tax revenues?
• Canadians paid $500 billion in income and other taxes in 2006, if predictions are correct our governments will collect $20 billion less ($500 billion) in 2020
2. More health-care spending
• In 2006 13% of the population was 65yrs+, it will be 18% by 2020
• On average a senior citizen costs 5X more in terms of health-care and social services compared to a younger adult
• This...
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