Presenting the Baby Boom (1946-1965) as both a potential social problem and opportunity for American leadership, this monograph discusses the following aspects of this population concern: (1) its immediate and long-term impact on career opportunities for those college graduates who make up the baby boom generation; (2) its impact on those whose competitive positions will be significantly affected by the entry of the baby boom generation into the work force; and (3) the potential social implications of the baby boom and its resulting overpopulation of many areas of the labor market. Placing emphasis on what individuals can do to avoid or mitigate the personal effects of the baby boom's undesirable and overwhelming influence on the labor market, the author encourages realistic and strategic career planning and mandates for new guidance techniques, while he discourages a liberal arts education and unrealistic expectations by both parents and students. (BM)