The economic changes for boomers have been head-spinning -- and not always fair

The article in Trendlines reflects on how economic shifts have affected baby boomers, as well as how fair those changes have been. Writing toward his 65th birthday, the author contrasts 1961’s labor and business environment with today’s economy, framing the transformation through the rise of services over manufacturing. It cites the U.S. Department of Labor reporting an average weekly wage of $94.24 for factory workers in June 1961 (about $1,080 in today’s dollars). Over decades, manufacturing fell from 28% of jobs in 1961 to 9% last month, while services rose to 72% in June. It also notes life expectancy at birth increasing to 79 years in 2024 from 70.2 in 1961.