Job Market Monitor
Aging
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
Old Age Social Security in Canada – Life expectancy at age 65 projected to increase from 21 to 24 years for men and from 23 to 26 years for women by 2075
The population of Canada is projected to age significantly over the coming decades. Increasing life expectancies, the aging of the baby boomers, and low fertility rates are the predominant factors that will contribute to the increase in the proportion of the elderly. As a result, the population at ages 65 and over is expected to increase … Continue reading
Aging – The picture looks a lot brighter using a series of new measures
The populations of most countries of the world are aging, prompting a deluge of news stories about slower economic growth, reduced labor force participation, looming pension crises, exploding health care costs and the reduced productivity and cognitive functioning of the elderly. These stories are dire, in part because the most widely used measure of aging … Continue reading
Aging and Shrinking Labor Forces in Europe – Economic long-term outlooks often too pessimistic
Demographic aging and accompanying shrinking labor forces are common phenomena throughout the developed world. There is a widespread notion that societal aging will put significant pressure on public budgets, a view supported by recent OECD projections. Expenditures for public health are expected to rise, old-age pension systems already are burdened by an imbalance of working … Continue reading
Aging Canada – No choice but to adapt to slower domestic growth David K. Foot says
The entry of the massive baby boomer generation into the Canadian work force over the 1960s and 1970s resulted in rapid work force and economic growth, rising unemployment and increasing inflation. Their exit over the next 20 years will have the opposite effects: slow work force and economic growth, falling unemployment and reduced inflation (possibly … Continue reading
Aging Workforce – What can employers do to mitigate the risks ?
Demographic change will have a profound effect on the UK labour market over the next two decades and beyond. Over 30% of people in employment in the UK are over the age of 50, and there are unlikely to be enough younger people entering the labour market to replace this group when they leave the … Continue reading
The Aging Emerging Economies
Population aging is often cited as a major economic challenge for the developed world. But a new report from the McKinsey Global Institute (MGI) shows that shifting demographics pose an even greater threat to the growth prospects of many emerging economies. Over the last 50 years, the world’s 1.6% annual population growth fueled a surging … Continue reading
Aging of Japan – The labor-market gap
Japan is the world’s oldest country—25 percent of its people are aged 65 or over. By 2040, that ratio is estimated to rise to the historically unprecedented level of 36 percent. The population of Japan nearly tripled in the 20th century, peaking at 128 million in 2010. But with a falling birth rate, one of … Continue reading
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