Public Live Long And Prosper! Apr 8, 2024 2 min read American consumers are doing what they do best: They are consuming goods and services. Their consumption of services has been especially strong. So the demand for workers by several major services industries has been particularly strong. In turn, robust employment gains have boosted consumers’ purchasing power and spending. We have attributed some of these developments to the retiring Baby Boomer generation. This cohort is the richest generation of senior citizens Ed Yardeni
Public Retiring Boomers Have More Time & Money to Spend on Services Jun 3, 2023 2 min read Since early last year, many economists have been forecasting that consumers will retrench, causing a recession. They may be missing the spending boom driven by Baby Boomers. As more and more of them are retiring, they are spending more on travel (including airfare, accommodations, and cruises), eating out, and health care. Employment is expanding in all these areas of the labor market. The retired Baby Boomers may no longer be Ed Yardeni
