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Assets and Debt across Generations
This analysis examines the household wealth that baby boomers, Gen Xers and millennials each held at age 30, comparing these generations’ assets, debt and net worth.
Journal Article
Men’s Falling Labor Force Participation across Generations
The labor force participation rate for prime-age men has been declining for decades. About 14% of millennial males at age 25 are not in the labor force, compared with 7% of baby boomer males when they were that age. This generational gap declines substantially as groups approach middle age; the decline reflects that younger millennials enrolled in postsecondary education at higher rates and moved into the workforce later than prior generations. The convergence for millennial males suggests that the trend of men’s higher nonparticipation rates may slow in the future.
Journal Article
The long-term outlook for U.S. residential construction
The recovery of U.S. housing construction paused during the first half of 2013. Stronger growth is likely to resume in the near term. But over the long term, home construction is likely to contract as aging baby boomers downsize.
How Young Adults’ Homeownership Differs Across Generations
St. Louis Fed economist Victoria Gregory discusses her research on wealth, homeownership and location patterns for young adults from the baby boom to Gen Z.
Journal Article
Workforce Development Partnership Serves Both Employers and Employees
The health-care industry is the largest employer in Pennsylvania, and as a result, this industry has a huge impact on the state?s economy. As baby boomers age and their health-care needs increase, however, the state is facing a health-care workforce shortage that is magnified by high turnover rates, an inadequate pool of qualified employees, and a lack of qualified instructors.
Who Holds a Green Card?
Understanding the characteristics of U.S. permanent residents can provide insight into the future workforce.