The correlation between birth rates and the economy is an absolutely accurate assessment. You can actually go back to various "milestone" times in the lives of the WWII baby boomers and see amazing up swings in various industries. For example:
Baby products when the baby boomers were first born.
The automobile industry when the baby boomers were getting their driver's licenses
Appliances when the baby boomers were purchasing their first homes

And now with the baby boomers entering into retirement, the travel industry is at an all-time high as well Elder Care Services for the baby boomers' parents.
The Law of Supply & Demand in effect!