House Price to Income Ratio for Australia from 1970

Baby Boomers began their careers during the economic challenges of the 1970s and 1980s, enduring multiple recessions.

After that turbulent period, they enjoyed about a decade of stability before the 1991 recession.

However, the latter part of their careers saw steady economic growth, with Australia experiencing no recessions from 1991 until the onset of the COVID recession in 2020—an exceptionally favorable environment for doing business.

As a generation that has accumulated significant wealth, Baby Boomers are also the parents of Millennials.

Now, as Baby Boomers gradually retire, with half already reaching retirement age, the influence of their values on public workforce policies is diminishing.