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29 Dec 2021
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The given graph is
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Step 1.
Reasons for the baby boom include
end of World War 2, many people returning from overseas want to have a lot of sex, and also people who postponed starting a family because of the war, or the depression before that did not have to do so anymore
the economy was very good after the war
During the baby bust, the baby boomers are grown up and filled the work force. Newer workers could not earn as much relatively compared to when their parents entered the work force and postponed having children.
Those born during the baby bust grew up and had less competition entering the work force, since there were fewer of them. So they had better income which helps when deciding to start families.