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As the baby boom generation retires, the ratio of retirees to workers will increase noticeably. How will this affect the Social Security program? How will this affect the standard of living of the average American?
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As the baby boom generation retires, the ratio of retirees to workers will increase noticeably. How will this affect the Social Security program? How will this affect the standard of living of the average american? Social Security program is a major support for elderly retired people. Baby boomers will put more, put more pressure on the Social Security program. The cost of Social Security will increase faster than taxes as the retired population grows faster than the working population. If the ratio of retirees to workers increases, then the government will either cut the benefits of Social Security or increase the taxes in order to pay for the benefits of Social Security.
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45) Over the next few years, employers may face a severe labor shortage because ________.A) there are fewer people entering the workforce than there are retiring baby boomersB) one-third of single mothers are not employed in the U.S. labor forceC) younger workers lack the values and knowledge of their parentsD) there are too many nontraditional workers holding multiple jobsE) older employees are more family-centric than younger employeesAnswer:Explanation: Employers are faced with a possible labor shortage because baby boomers account for alarge percentage of the workforce. As these workers reach retirement age, younger workers will need tofill the open positions, except there are fewer younger workers available. The family-centric nature andpoor work values of younger workers are problematic for employers, but neither one is the cause of alabor shortage.A
Diff: 3Page Ref: 15Chapter:1Objective:4Skill:Concept46) According to employer surveys, one of the primary challenges of Generation Y employees is their________.E
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