2015 Annual Report: The Graying of the American Economy
Between 2010 and 2030, the number of Americans over 65 will nearly double, from 40 million to 74 million. What will this mean for the U.S. economy? With this report, the Atlanta Fed hopes to draw increasing attention to the implications and challenges of this demographic shift.
The aging of the U.S. population will soon accelerate. Between now and 2050, the 65-and-up cohort will grow nearly six times as fast as the 18-to-64 population. Part 1 of the Atlanta Fed's 2015 annual report dives into the numbers.
The ratio of working-age Americans to those over 65 is falling fast, creating challenges for Social Security and Medicare. The longer policymakers wait to act, the tougher the challenges. Part 2 of the 2015 annual report analyzes how our aging population will affect these and other social insurance programs.
Labor force participation has slowed in recent years, due in part to retiring baby boomers. But as labor force growth slows, what happens to the growth potential of the U.S. economy? Part three of the Atlanta Fed's 2015 annual report looks at this conundrum.