Aging

This tag is associated with 43 posts

Aging Workforce in Canada – The ratio of younger workers to older workers declined from 2.7 in 1996 to 1.0 in 2018

Over the past two decades, the share of the employed population aged 55 and over increased significantly. This study uses Census of Population and Labour Force Survey data to examine the changing age composition of workers within the most prevalent occupations (with at least 10,000 workers), as well as the occupations that are increasing and … Continue reading

Aging – Likely a transitory phenomenon in high-income countries

Will the population of today’s high-income countries continue to age throughout the remainder of the century? We answer this question by combining two methodologies, Bayesian hierarchical probabilistic population forecasting and the use of prospective ages, which are chronological ages adjusted for changes in life expectancy. We distinguish two variants of measures of aging: those that … Continue reading

Global Aging – The trend towards higher levels of educational attainment may help to reduce economic dependency

When studying the economic consequences of changes in the age structure of the population, looking at economic dependency ratios provides us with some descriptive and intuitive initial insights. In this paper, we present two economic dependency ratios. The first ratio is based on economic activity status, and relates the number of dependent individuals to the … Continue reading

Aging Canada – The gap between the number of children and the number of seniors is growing

The gap between the number of children and the number of seniors is growing The most recent population estimates point to the continued rapid aging of the Canadian population. This trend is especially driven by fertility rates below the replacement level, which has been the situation in recent decades, and an increased life expectancy. The … Continue reading

Aging Workforce – Participation of older workers would have to rise significantly to stem the decline in aggregate participation IMF says

Population growth in advanced economies is slowing, life expectancy is rising, and the number of elderly people is soaring. Because older workers participate less in the labor market, the aging of the population could slow growth and, in many cases, threaten the sustainability of social security systems. But, as our research in Chapter 2 of … Continue reading

Canada – An impending workforce gap

Canada has an impending workforce gap that will be hard to bridge using traditional measures. Workforce expansion has been an especially strong driver of growth in Canada. But with twice as many employees aged 55+ today as in 1997, this will change in coming decades. To grow our workforce at the same rate moving forward, … Continue reading

Aging – Japan’s recent experiences

As the third largest economy in the world and a precursor of global trends in population aging, Japan’s recent experiences provide important lessons regarding how demographic shifts affect the labor market and individuals’ economic well-being. On the whole, the labor market has shown a remarkable stability during the recent financial crisis, despite decades of economic … Continue reading

Participation rate of 55 and over In Canada – Increased from 24% to 38% from 1996 to 2016

Since 2007—prior to the economic downturn of 2008/2009—the overall labour force participation of Canadians declined by about two percentage points. The first part of the study investigates the extent to which aging affected changes in labour market participation rates since 2007, based on data from the Labour Force Survey (LFS). In the second part, the … Continue reading

2016 Census in Canada – The largest increase in the proportion of seniors since Confederation

From 2011 to 2016, Canada registered the largest increase in the proportion of seniors since Confederation. This acceleration of population aging is the result of the first baby boomers reaching the age of 65. Today, Statistics Canada is releasing a second series of data from the 2016 Census on age and sex, and type of dwelling. The agency will release all 2016 Census … Continue reading

Aging Workforce in US – A 10% increase in the fraction of the population ages 60+ decreases the growth rate of GDP per capita by 5.5% research finds

Population aging is widely assumed to have detrimental effects on economic growth yet there is little empirical evidence about the magnitude of its effects. This paper starts from the observation that many U.S. states have already experienced substantial growth in the size of their older population and much of this growth was predetermined by historical … Continue reading

US – Is your city’s workforce growing older or younger?

Is your city’s workforce growing older or younger? CareerBuilder is out with a new study that explores employment trends for the 100 most populous U.S. cities, tracking how the shares of workers ages 22 to 34 and ages 55 and older have changed from 2001 to 2016. Topping the list for cities aging the fastest … Continue reading

The Aging Challenge – Two solutions

Population aging—the increase of the share of older individuals in a society due to fertility declines and rising life expectancy—is an irreversible global trend with far-reaching economic and socio-political consequences. By 2050, the number of people aged 60 and older will more than double from its current levels, reaching around 2 billion. While Europe was … Continue reading

Japan – The demographic demographic problem in one chart

Japan has a major demographic problem: 26 percent of its population is elderly, the largest percent of any country in the world. That’s because Japan’s birthrate is declining, as is its overall population. In other words, a huge chunk of its population is getting old and leaving the workforce, and not enough people are being … Continue reading

Aging Finland – 34,000 immigrants needed instead of the current 18,000 in order to stop the decrease working-age population

Finland does not apply quotas or a points-based system to labour migration. Instead, Finland applies the determination of the availability of labour when issuing a residence permit for an employed person. However, the proportion of labour subject to the determination of the availability of labour is relatively low and the majority of labour uses other … Continue reading

Youth – The world is roughly split into two

The world is roughly split into two – between countries where the population aged 15-19 will increase (almost threefold in the case of Niger) and where it will decrease. Chosen excerpts by Job Market Monitor. Read the whole story at  Japan is not the only country worrying about population decline – get used to a two-speed … Continue reading

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