I've read that the reason why the academic job market is so swamped for Physics is because of the massive spending around Sputnik's launch which resulted in the hiring of tons of physics faculty, followed by anti-age discrimination legislation which allowed those Sputnik-era professors to stay employed well into their 70's. It makes sense to say that this generation of professors will soon (within the next 10 years) retire. Is my information accurate? And, will this really open up new jobs at respectable universities for new PhD's? I ask because I want to pursue this career path, for the sake of performing original research, but am afraid and discouraged by the job situation.