SUBSCRIBE TO OUR FREE NEWSLETTER
Daily news & progressive opinion—funded by the people, not the corporations—delivered straight to your inbox.
5
#000000
#FFFFFF
5
#000000
#FFFFFF
Race and gender inequalities are poised to deepen, as the number of older Americans continues to climb. (Photo: Getty)
'Richest Generation'? Baby Boomers Face Deep Inequalities
New report reveals profound disparities along race and gender lines
Jan 14, 2016
It's a familiar trope in U.S. society that baby boomers are the "richest generation."
But a report released online Thursday by the Population Reference Bureau shows that wealth is unequally distributed among this demographic, with people born between 1946 and 1964 facing pronounced disparities along race and gender lines.
For people 65 and older, the poverty rate has decreased dramatically over the past half century--from almost 30 percent in 1966 to 10 percent today, notes Aging in the United States (pdf).
However, closer examination shows wide gulfs within this demographic.
"While just 8 percent of non-Hispanic whites ages 65 and older lived in poverty in 2014, the comparable figures was 18 percent among Latinos and 19 percent among African Americans," note authors Mark Mather, Linda Jacobsen, and Kevin Pollard.
"Older women are especially vulnerable," the report continues. "In 2014, about 12 percent of women ages 65 and older were poor, compared with 7 percent of older men. Among those ages 75 and older, women are nearly twice as likely to be poor (15 percent) compared with men (8 percent)."
The gender disparity is not just the result of women's longer life expectancy. Researchers say higher poverty rates are "also linked to the gender gap in earnings at younger ages, which translates into lower Social Security payments for women in retirement."
Such race and gender inequalities are poised to deepen, as the number of older Americans continues to climb, the report warns. Today there are 46 million people in the U.S over the age of 65, but that figure is poised to jump to 98 million by 2060.
"Economic disparities among younger adults raise concerns about the future health and well-being of older adults," the authors write. "Inequalities among working-age adults by gender, race/ethnicity, and education tend to persist in old age."
"Policymakers and others need to pay attention to these gender and racial/ethnic gaps, which could undermine progress in advancing the well-being of older Americans in the coming decades," the report urges.
Why Your Ongoing Support Is Essential
Donald Trump’s attacks on democracy, justice, and a free press are escalating — putting everything we stand for at risk. We believe a better world is possible, but we can’t get there without your support. Common Dreams stands apart. We answer only to you — our readers, activists, and changemakers — not to billionaires or corporations. Our independence allows us to cover the vital stories that others won’t, spotlighting movements for peace, equality, and human rights. Right now, our work faces unprecedented challenges. Misinformation is spreading, journalists are under attack, and financial pressures are mounting. As a reader-supported, nonprofit newsroom, your support is crucial to keep this journalism alive. Whatever you can give — $10, $25, or $100 — helps us stay strong and responsive when the world needs us most. Together, we’ll continue to build the independent, courageous journalism our movement relies on. Thank you for being part of this community. |
Our work is licensed under Creative Commons (CC BY-NC-ND 3.0). Feel free to republish and share widely.
Sarah Lazare
Sarah Lazare is web editor at In These Times. She is a former Staff Writer at Common Dreams. She comes from a background in independent journalism for publications including The Intercept, The Nation, and Tom Dispatch.
It's a familiar trope in U.S. society that baby boomers are the "richest generation."
But a report released online Thursday by the Population Reference Bureau shows that wealth is unequally distributed among this demographic, with people born between 1946 and 1964 facing pronounced disparities along race and gender lines.
For people 65 and older, the poverty rate has decreased dramatically over the past half century--from almost 30 percent in 1966 to 10 percent today, notes Aging in the United States (pdf).
However, closer examination shows wide gulfs within this demographic.
"While just 8 percent of non-Hispanic whites ages 65 and older lived in poverty in 2014, the comparable figures was 18 percent among Latinos and 19 percent among African Americans," note authors Mark Mather, Linda Jacobsen, and Kevin Pollard.
"Older women are especially vulnerable," the report continues. "In 2014, about 12 percent of women ages 65 and older were poor, compared with 7 percent of older men. Among those ages 75 and older, women are nearly twice as likely to be poor (15 percent) compared with men (8 percent)."
The gender disparity is not just the result of women's longer life expectancy. Researchers say higher poverty rates are "also linked to the gender gap in earnings at younger ages, which translates into lower Social Security payments for women in retirement."
Such race and gender inequalities are poised to deepen, as the number of older Americans continues to climb, the report warns. Today there are 46 million people in the U.S over the age of 65, but that figure is poised to jump to 98 million by 2060.
"Economic disparities among younger adults raise concerns about the future health and well-being of older adults," the authors write. "Inequalities among working-age adults by gender, race/ethnicity, and education tend to persist in old age."
"Policymakers and others need to pay attention to these gender and racial/ethnic gaps, which could undermine progress in advancing the well-being of older Americans in the coming decades," the report urges.
Sarah Lazare
Sarah Lazare is web editor at In These Times. She is a former Staff Writer at Common Dreams. She comes from a background in independent journalism for publications including The Intercept, The Nation, and Tom Dispatch.
It's a familiar trope in U.S. society that baby boomers are the "richest generation."
But a report released online Thursday by the Population Reference Bureau shows that wealth is unequally distributed among this demographic, with people born between 1946 and 1964 facing pronounced disparities along race and gender lines.
For people 65 and older, the poverty rate has decreased dramatically over the past half century--from almost 30 percent in 1966 to 10 percent today, notes Aging in the United States (pdf).
However, closer examination shows wide gulfs within this demographic.
"While just 8 percent of non-Hispanic whites ages 65 and older lived in poverty in 2014, the comparable figures was 18 percent among Latinos and 19 percent among African Americans," note authors Mark Mather, Linda Jacobsen, and Kevin Pollard.
"Older women are especially vulnerable," the report continues. "In 2014, about 12 percent of women ages 65 and older were poor, compared with 7 percent of older men. Among those ages 75 and older, women are nearly twice as likely to be poor (15 percent) compared with men (8 percent)."
The gender disparity is not just the result of women's longer life expectancy. Researchers say higher poverty rates are "also linked to the gender gap in earnings at younger ages, which translates into lower Social Security payments for women in retirement."
Such race and gender inequalities are poised to deepen, as the number of older Americans continues to climb, the report warns. Today there are 46 million people in the U.S over the age of 65, but that figure is poised to jump to 98 million by 2060.
"Economic disparities among younger adults raise concerns about the future health and well-being of older adults," the authors write. "Inequalities among working-age adults by gender, race/ethnicity, and education tend to persist in old age."
"Policymakers and others need to pay attention to these gender and racial/ethnic gaps, which could undermine progress in advancing the well-being of older Americans in the coming decades," the report urges.
We've had enough. The 1% own and operate the corporate media. They are doing everything they can to defend the status quo, squash dissent and protect the wealthy and the powerful. The Common Dreams media model is different. We cover the news that matters to the 99%. Our mission? To inform. To inspire. To ignite change for the common good. How? Nonprofit. Independent. Reader-supported. Free to read. Free to republish. Free to share. With no advertising. No paywalls. No selling of your data. Thousands of small donations fund our newsroom and allow us to continue publishing. Can you chip in? We can't do it without you. Thank you.