Census Bureau News is saying in the next 40 years boomers will increase the dependency ratio (the number of people 65 and older to every 100 people of traditional age). They are also reporting the older American population is becoming more diverse.

The ratio is projected to climb rapidly from 22 (per 100 of working age) in 2010 to 35 in 2030. This time period coincides with the time when baby boomers are moving into the 65 and older age category. It is projected that the ratio will slow after 2030 to around 37 per 100 people ages 20 to 64.

The projections are not based on 2010 Census results. Rather, they project 2000 Census counts forward using components of population change — births, deaths and net international migration.

“This rapid growth of the older population may present challenges in the next two decades,” said Victoria Velkoff, assistant chief for estimates and projections for the Census Bureau’s Population Division.

He continues, “It’s also noteworthy that those 85 and older — who often require additional caregiving and support — would increase from about 14 percent of the older population today to 21 percent in 2050.”

According to the same report, minorities are projected to comprise 42 percent of the 65 and older population in 2050. This is over double the proportion they comprise today (20 percent).

The findings are contained in the report, “The Next Four Decades: The Older Population in the United States: 2010 to 2050,” which can be viewed in PDF format at:

www.census.gov/prod/2010pubs/p25-1138.pdf

Contributing Author
Ashley Brown-Kerr, HowToMarketYourBusinessNow.com