225,000 jobs were created in January boosting the economy and propelling stocks to new highs. Financial journalists attributed the boom in new jobs to mild winter weather. However, a deeper understanding of the causes of economic growth suggests another trend at work.
Specifically, baby boomers are working longer than anyone anticipated. In the accompanying chart, you will notice the percentage of those over 65 choosing to continue to work is steadily climbing higher. With the number of people in the labor force a key component of economic growth, this overlooked trend is an important contributor to our current economic success.
