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APA
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Business & Marketing
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English (U.S.)
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Topic:

Population Projection of the US in 2020 to 2060

Coursework Instructions:

Other things equal, an increase in the number of buyers for a product or service will increase demand.  For example, baby diapers and retirement villages are two products designed for different population groups.  
Please review "Projections of the Size and Composition of the U.S. Population: 2020 to 2060" (Links to an external site.) generated by the U.S. Census Bureau which outlines population projections by age and answer the corresponding questions.
1. Which age group is growing fastest?
2. Which age group is growing slowest? 
3. Did anything surprise you?
4. What products might see an increase in demand because of these population changes?
5. What products might see a decrease in demand because of these population changes?
Your submission should be at least one-page double spaced.

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1. Which age group is growing the fastest?
Older people (people aged 65 and above) are growing faster than other age groups. The population of people aged 65 and above will increase from 56.1 million in 2020 to 94.7 million in 2060 (Vespa and Medina, 2018). The biggest increase in the population of people aged 65 and above is expected to occur between 2020 and 2030 because all the baby boomers would have turned 65 years.
2. Which age group is growing slowest?
The youth population (people below 18 years) is the age group that is growing slowest. The number of people under 18 years will shift from 74 million to 80.1 million representing an increase of only 6.1 million (Vespa and Medina, 2018).
3. Did anything surprise you?
The biggest surprise from the projections is that there will be 76 people aged 65 or older for every 100 individuals by 2060 (Vespa and Medina, 2018). This projec...
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