Latest news with #BabyBoomers'
Newsweek
6 days ago
- General
- Newsweek
Gen Z's Trauma Therapy Compared to Millennials, Boomers
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. Gen Z may have a reputation for being the weakest generation, but their trauma therapy habits indicate they are not too different from their millennial and Gen-X elders. Baby Boomers, however, show a reluctance to seek help for traumatic experiences. In a new report from Rula Health, Americans' therapy habits were analyzed by generation. Baby Boomers' reluctance for trauma therapy may be defined by their upbringing. "Their reluctance to seek trauma therapy reflects a generation that was told to suck it up, repress everything, and call it strength," Driscoll told Newsweek. Why It Matters Gen Z, which includes those aged roughly from 12 to 28, has been reported as more likely to deal with mental health issues, with some employers and elders seeing them as a "softer" generation. A survey by Talker Research for Traditional Medicinals found that 19 percent of respondents under 18 had taken a mental health day in the past few weeks alone. Meanwhile, 65 percent of Baby Boomers said they had never called in sick due to stress. Additionally, a 2023 Gallup survey found that just 15 percent of Gen Zers reported their mental health as excellent, a substantial drop from the decade before when 52 percent of millennials in the same age range reported their mental health as excellent. Elyssa Thelin, a substance use disorder counselor and art therapist at the Cielo Treatment Center, talks about how people use art as therapy for their feelings and trauma at the Cielo Treatment Center for drug... Elyssa Thelin, a substance use disorder counselor and art therapist at the Cielo Treatment Center, talks about how people use art as therapy for their feelings and trauma at the Cielo Treatment Center for drug addiction rehabilitation and mental health in Portland, Oregon on January 24, 2024. More PATRICK T. FALLON/AFP via Getty Images What To Know When it comes to the generations and trauma therapy, there are fewer differences than one might expect. The new Rula Health report found those aged 18 to 24 (considered older Gen-Zers) sought therapy due to trauma 31.6 percent of the time, with those aged 25 and 34 (oldest of Gen-Z and the younger half of millennials) also seeking help for trauma at 30.8 percent. Even in the older age group of 45 to 54 (Gen-X), 30.1 percent reported they were going to therapy for trauma. The number only significantly dipped off at age 55 to 64 (the oldest of Gen-X and younger Boomers), when only 16.9 percent were in therapy for trauma, and even less, 10.3 percent of those aged 65 and older (Baby Boomers) said they went to therapy due to trauma. This reflects that Baby Boomers are the real outlier when it comes to their views on trauma and therapy, said Bryan Driscoll, an HR consultant who specializes in generational differences. "Their reluctance to seek trauma therapy reflects a generation that was told to suck it up, repress everything, and call it strength," Driscoll told Newsweek. "But unaddressed trauma doesn't go away - it just turns into bad parenting, addiction, rage, and broken families. Boomers don't dodge therapy because they're tougher than younger generations. They dodge therapy because they've been shamed out of it." Relationship therapist Joy Berkheimer, who is also the founder of Joy Collective, echoed this sentiment. "The reluctance among many Boomers to seek therapy reflects deeper cultural, societal, and historical contexts," Berkheimer told Newsweek. "They were raised in a time where mental health stigma was stronger, and seeking help could be seen as a sign of failure or weakness." Across the board, 54 percent of those in therapy were seeking it for help with anxiety, with 52.9 percent going due to depression. A similar rate to those in therapy for trauma (26.8 percent) were seeing a professional for stress or burnout at 33.1 percent. Those aged 45 to 54 reported the highest rates of anxiety and burnout, while those aged 55 to 64 showed the highest rates of depression. What People Are Saying Bryan Driscoll, an HR consultant who specializes in generational differences, told Newsweek: "This data doesn't show Gen Z and other younger generations are weak. It shows they're more self-aware and more willing to confront pain head-on, rather than bury it under a 'just deal with it' mentality. What people too often label as weakness is actually emotional literacy. Older generations were raised to believe therapy was for people who were broken. Gen Z knows it's for people who want to break cycles." Monica Cwynar, a licensed counselor and social worker with Thriveworks, told Newsweek: "Baby boomers (ages 55–64) and older generations show much lower rates of therapy-seeking behavior, particularly at only 16.9 percent. Their lower rate of engagement can reflect a cultural background shaped by different societal norms around mental health, where there has traditionally been a stigma associated with seeking help. Boomers are more likely to emphasize resilience, self-reliance, and the belief that personal struggles should be handled privately, that seeking help is a weakness, resulting in a hesitance to seek external support like therapy." Relationship therapist Joy Berkheimer, also the founder of Joy Collective, told Newsweek: "The data clearly does not support the narrative that Gen Z is 'weaker.' Instead, it shows that all generations are increasingly recognizing the importance of mental health, though their methods and comfort levels differ. What we're witnessing is a shift in cultural norms: more openness, less stigma, and greater access." What Happens Next Berkheimer said on a larger level, Gen Z is breaking down the stigmas around mental health and trauma, which could impact how people engage with therapy moving forward. "This generation is more likely to openly seek therapy, prioritize emotional well-being, and engage in practices that emphasize healing and self-awareness... In contrast, older generations may have been conditioned to view therapy as a last resort or a sign of weakness, often due to cultural and societal taboos rooted in stigma and distrust."
The Independent
28-04-2025
- Business
- The Independent
Baby Boomers' housing wealth swells to record £2.9 trillion
Homeowners aged 60 and over in the UK hold over half (a record £2.89 trillion) of the nation's owner-occupied housing wealth. Baby Boomers' share (56 per cent) contrasts with the younger generation's 6 per cent share. Over-75s account for almost a quarter (23 per cent) of the total housing wealth. While holding substantial wealth, the over-60s still have around £60 billion in outstanding mortgage borrowing. Savills suggests providing more retirement housing and downsizing incentives to free up equity and help younger generations enter the housing market. Baby Boomers hold more than half of the UK's housing wealth
Forbes
19-04-2025
- Business
- Forbes
7 Critical Ways Gen X Strengthens Your Leadership Pipeline
While the media overflows with stories about Baby Boomers' retirement plans, Millennials' search for purpose, and Gen Z's digital savvy, one generation consistently fades into the background. Gen X—the 65 million Americans born between 1965 and 1980—has become the forgotten middle child of the workforce despite quietly leading today's organizations. Though they rarely demand attention like other generations, Gen X now holds over half of the leadership positions and forms the management backbone across industries. Yet this pivotal generation receives disproportionately less attention—an oversight that's unfair and potentially damaging to business performance. To appreciate why Gen X deserves recognition, we need to examine the distinctive qualities that make this group indispensable. Let's explore seven attributes that make Generation X valuable contributors who are essential to your organization's leadership pipeline and future success. Generation X has lived through and adapted to modern history's most significant technological transformations, giving them a unique advantage. Unlike digital natives or older generations who might resist technological change, Gen X bridges these worlds with remarkable adaptability. Gen X brings technological competencies: This powerful combination of technological fluency and business savvy makes Gen X valuable in implementing digital transformation initiatives across organizations. Gen X is at the peak of their careers, bringing decades of experience while still having many productive years ahead. This makes them your most valuable leadership asset—experienced enough to navigate complexity yet adaptable enough to embrace change. Gen X leaders offer critical advantages: Organizations that focus exclusively on developing Millennial and Gen Z talent while overlooking Gen X are essentially neglecting the very leaders currently running their companies, making Gen X engagement and development a strategic imperative. Organizations often undervalue institutional memory in an era marked by disruption and innovation. Gen X employees frequently serve as the keepers of this knowledge, having accumulated years of understanding about why systems, processes, and cultural norms exist. Gen X preserves critical organizational knowledge: This historical information becomes increasingly valuable during organizational transformations, providing the stability and context needed to manage change effectively. Having adapted to major technological and workplace shifts, Gen X is uniquely equipped to bridge traditional and modern work approaches. Their position within organizational hierarchies positions them as natural connectors within a multi-generational workforce. Gen X excels at cross-generational leadership: As workplace generational diversity continues expanding, this bridging capability becomes increasingly valuable for organizational alignment and knowledge transfer. Despite their reputation for independence and skepticism, Gen X demonstrates remarkable workplace loyalty compared to younger generations. Amdocs research found that only 14% of Gen Xers have considered leaving their jobs, compared to 31% of Gen Z and 27% of Millennials. Only Boomers showed slightly more loyalty at 13%. This stability delivers significant organizational benefits: However, this loyalty shouldn't be taken for granted. During the Great Resignation, Gen X departures increased by 37% compared to previous years—a warning sign that even this traditionally stable generation will seek better opportunities if undervalued. Shaped by economic challenges, political scandals, and social upheaval, Gen X developed a distinctive pragmatism that translates directly to business value. Gen X brings a results-driven approach: This combination of practical assessment and openness to change makes Gen X leaders particularly valuable during periods of business transformation. Gallup's research reveals troubling disengagement trends among Gen X workers. Since March 2020, the percentage of engaged Gen X employees has declined (from 35% to 31%), while actively disengaged Gen X employees increased (from 17% to 18%). The data is particularly concerning because Gen X shows the most significant drops in crucial engagement areas: connection to organizational mission, opportunities for growth, meaningful manager discussions, and the sense that their opinions matter. The good news is that addressing this gap doesn't require complex tactics. Gen X typically responds well to straightforward strategies: Given Gen X's critical leadership roles, the ROI for these relatively simple tactics could be substantial. Organizations overlooking Generation X do so at their own risk. Gen X's competence, adaptability, and institutional knowledge become increasingly valuable as leadership gaps widen. In today's disruptive environment, this generation offers both stability and innovation—precisely what's needed to navigate uncertainty. It's time to bring Gen X from the background to the foreground of your talent strategy—not just as a recognition of their contributions but as an investment in your organization's future success.
Zawya
21-03-2025
- Business
- Zawya
Wall Street jolt may jog jobless rate: Mike Dolan
LONDON - In another potential feedback loop from falling stocks to the real economy, some economists now fear the risk of delayed retirement on the long-subdued U.S. unemployment rate. One of the many reasons cited for the persistently low U.S. jobless rate in recent years has been the peaking wave of Americans reaching retirement age and leaving the workforce. Some may have left early during the pandemic, and others may have been encouraged to go by savings pots flush from years of booming stock prices. But that decision has never affected more people than it will this year. According to the Washington-based non-profit Alliance for Lifetime Income, a record 4.18 million U.S. workers hit retirement age in 2025, an average of 11,400 Americans turning 65 every day. And that record is set to hold for 20 years until the larger 'Millennial' cohort starts to trip over the line. As is well known, many of these retirees haven't stocked away enough cash. There are acres of reports on the inadequacy of retirement savings and the questionable viability of social security. Indeed, there's a whole industry formed around encouraging people to save more. The Alliance data shows more than half of 'Baby Boomers' turning 65 between 2024 and 2030 have assets of $250,000 or less, on average. And most can expect to live another 20 years. Given this reality, the jarring shakeout in Wall Street stock indexes this year may force some would-be retirees to hang on in the workforce. Michael Reid, U.S. Economist at RBC Capital Markets, reckons an enduring stock market retreat could well have a meaningful effect on the labor market and unemployment calculations. "If you see a stock market correction, it could not only impact the spending from that cohort but we're also talking about an upside risk to our unemployment forecast. Some of those folks may delay retirement by a year or two." Employers replacing workers who retire adds nothing to overall payroll growth, he added, but high rates of retirement remove people from the overall labor force, suppressing the participation rate and hence the jobless rate calculations. By extension, delays to retirement may buoy the available labor force and potentially the rate of unemployment for a given level of payrolls. PART-TIME AND PARTICIPATION Multiple cross-currents complicate the employment picture, of course, including new limits on immigration, which has played a critical role in expanding the workforce in recent years. Concern about worker shortages has been rising, partly due to immigration curbs, so many see higher labor force participation rates as warranted. Though prospective retirees are unlikely to fill factory roles or unskilled manual work often taken up by recent migrants. High-frequency data on the scale of U.S. retirement is elusive, but the labor force participation rate has been declining of late, hitting a two-year low of 62.4% in February and still below pre-pandemic levels. And at just 4.1%, the unemployment rate has now been pegged below 4.5% for more than three years. However, other measures of unemployment aren't so rosy. A broader measure, which includes those who want to work but have given up searching and those working part-time because they cannot find full-time employment, surged to 8% in last month's jobs report - the highest since 2021. The extent to which retirees are included in that part-time work calculation is unclear. General anxiety is rising again within the economy - judging from business and household surveys, though not all the hard data yet. And how much of the angst translates into changed plans, decision-making and investment hinges largely on the government policy trajectory from here. Anecdotally at least, Reuters reporting shows many older workers are sufficiently discombobulated by the combination of government upheavals and stock market volatility to worry about stopping work. Stock values and savings pots are just one of many factors in this mix, of course, and stock corrections have come and gone quickly in the past. But a longer-term market drawdown from such lofty levels may have more impact on the ageing U.S. population than it did in the past - adding a twist for the Federal Reserve and others to read employment market. The opinions expressed here are those of the author, a columnist for Reuters (By Mike Dolan; Editing by Stephen Coates)
Yahoo
31-01-2025
- Health
- Yahoo
Forget millennials—Baby Boomers may soon be the biggest players in the self-care economy
Baby Boomers are the growing target of the self-care economy, as their spending habits on wellness have increased more than any other generation. When it comes to splurging on salons and beauty products, a large sector of the self-care economy, "one generation rises far above the rest,' says a new Bank of America report that analyzed consumer credit and debit data. As of December, Baby Boomers' spending on beauty salons increased by 4% year over year—over three percentage points higher than other generations, per the report. Boomer spending on specialty beauty stores, like Sephora and Ulta Beauty, grew even more at 7% year over year, over 5% more than other generations. One notable exception in this age group is the spending on fitness clubs, which is more in line with other age groups, but still growing by 1% year over year. Overall, Gen Z and Baby Boomers were spending less than other generations on self-care in 2024. The report says this suggests 'that these generations may have some capacity to increase spending across all self-care categories in the year ahead.' Baby Boomers were the most likely—52%—to say they have enough money to spend on self-care, according to the Bank of America Market Landscape Insights Study. 'This is nearly twice the share of Gen Z respondents, suggesting that younger people may seek value and low-cost alternatives by turning to general merchandise stores or shopping online for their self-care needs,' according to the report. This comes as research underscores how lifestyle habits, like exercising, reducing stress, and taking care of overall mental health, reduce the risk of chronic conditions and help people age well—perhaps more top of mind for those in their 60s and 70s. Baby Boomers' spending potential in self-care also may be fueling a growing market of wellness experiences claiming to help optimize aging, such as longevity tourism. Further, a McKinsey report last year found that over 60% of consumers found it very or extremely important to spend money on ways to improve their longevity. For more on wellness habits: 4 best supplements for an energy boost, according to experts How vitamin B12 could give you an energy boost Americans drink more water than almost every other country. Here's why This story was originally featured on
