Demographics: Tracking declining working age populations
Working age populations are in decline among several member countries of the OECD. The infographic below highlights the steepness of the decline for Japan and Italy in particular.
But even countries such as South Korea are forecast to see a declining working age population by the middle of this century.
The ageing population brings many challenges and opportunities. The challenges include funding health and social care and the prospect of declining tax revenues from a shrinking labour force.
We made a synoptic revision video on the micro and macroeconomic effects of an ageing population which can be accessed using the link below.