January 2022
21Jan

Is Demand for Older Workers Adjusting to an Aging Labor Force?

By Damir Cosic & C. Eugene Steuerle This paper analyzes the demand for older workers, their substitutability with younger workers, and how well the demand for older workers tracks changes in the age composition of the labor force. The main data source for the analysis is the Quarterly Workforce Indicators from 2000 to 2018, which provides earnings and employment by sector and metropolitan statistical area. The analysis also uses KLEMS national data to estimate the sector-specific price and quantity of...

January 21, 2022
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21Jan

Germany wants to attract 400,000 skilled workers from abroad each year

Germany's new coalition government wants to attract 400,000 qualified workers from abroad each year to tackle both a demographic imbalance and labour shortages in key sectors that risk undermining the recovery from the coronavirus pandemic. "The shortage of skilled workers has become so serious by now that it is dramatically slowing down our economy," Christian Duerr, parliamentary leader of the co-governing Free Democrats (FDP), told business magazine WirtschaftsWoche. "We can only get the problem of an ageing workforce under control with...

January 21, 2022
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19Jan

David Sinclair explains what an ageing population means for economies around the world

The world has been ageing for some time, according to David Sinclair, Director, International Longevity Centre, but policy has still not caught up to tackle the potential problems this may cause for the world. He says that an ageing population will have an impact on the future like at no other time in history and will change everything from cities, transport and consumption to relations between countries, and for that to be positive rapid policy changes are needed. The below interview...

January 19, 2022
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07Jan

India’s jobs crisis is more serious than it seems

Jitendra Maurya was one of more than 10,000 jobless young people who turned up for interviews for 15 low-skilled government jobs in the central state of Madhya Pradesh. Many of them were overqualified - aspirants, according to one report, included post-graduates, engineers, MBAs and people like Maurya, who is preparing for a judge's exam, according to a BBC report. "The situation is such that sometimes there is no money to buy books. So I thought I will get some work [here],"...

January 7, 2022
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06Jan

Demographics Unravelled: How Demographics Affect and Influence Every Aspect of Economics, Finance and Policy

By Amlan Roy In Demographics Unravelled, renowned Macro-Demographics expert Amlan Roy delivers an insightful and timely exploration of the impact that “people characteristics” have on national economies. Considering factors like gender, race, migrant status, family background, and education, the author delves deeply into a subject that drives market behavior and economic variables, including growth, debt, inflation, employment, and productivity. These have national and international policy implications. In this one-of-a-kind book, you’ll discover: Why the study of demographics is the hidden key...

January 6, 2022
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06Jan

The great population growth slowdown

At the stroke of midnight on January 1, New York City welcomed its first new inhabitant of 2022: Leyla Gessel Tzunun Garcia, born as the new year began at Coney Island Hospital in Brooklyn. Read also India’s jobs crisis is more serious than it seems Given changing trends around population and fertility, though, there’s less competition to become the first baby of the new year than there used to be. Fewer babies were born in New York City in 2020 than...

January 6, 2022
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December 2021
23Dec

Aging Germany Is Running Out of Workers, Putting Europe’s Largest Economy at Risk

Germany has long been ahead of the curve as a source of technical innovation and manufacturing. Now it is leading much of the developed world toward a demographic cliff edge that could put a damper on Europe’s largest economy, raising pressure on its pension system and pushing inflation higher for years to come. Economists forecast that Germany’s workforce could peak as soon as 2023 and then shrink by up to five million people by the end of the decade. While...

December 23, 2021
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17Dec

Understanding and Forecasting Demographic Risk and Benefits

By David Bohl, Barry Hughes & Shelby Johnson There is a global demographic transition underway—mortality rates and fertility rates are declining in almost every country. Different countries are at different stages of this demographic transition, generally corresponding to their level of economic development, and progressing at different speeds. Declining mortality and fertility, along with migration, determine the changing age structures of countries. There are macro-economic, financial, and social burdens and benefits associated with different age structures. Since demographics is largely...

December 17, 2021
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15Dec

What the U.S. economy needs is for you to work longer to help protect your retirement benefits

By Richard Jackson Elderly workers have become an increasingly critical driver of U.S. economic growth, accounting for almost 60% of all gains in U.S. employment during the 2010s. But since the onset of the COVID-19 pandemic in February 2020, more than one in 15 elderly workers have dropped out of the country’s labor force. Near term, the decline in elderly labor-force participation is slowing the current economic recovery. Long term, if the decline proves permanent, it could worsen the already challenging...

December 15, 2021
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Why the demographic transition is speeding up
09Dec

Why the demographic transition is speeding up

As birth announcements go, it was momentous. On November 24th India’s government declared that the country’s fertility rate had dropped to 2.0 children per woman. That is below the replacement rate—at which new births are sufficient to maintain a steady population—and puts India in the company of many richer economies. Indeed, fertility rates are now below replacement level in all four “ bric” countries (Brazil, Russia, India and China), with the population probably falling in Russia and China. It...

December 9, 2021
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