With the distinct absence of much new to talk about in the ageing space, it’s a good time to refresh on ageing demographics.
This excellent article from Axios is well worth a read and covers some of the key issues around ageing with enough subject matter to write a book. It’s a nifty update on ageing demographics if only to review and to check out some cool charts.
The headlines and summaries will give you a sense of the breadth of this story;
The childless, aging future
The world will not have sufficient working-age people to support the elderly. Currently, North America has just under four workers per retired person. Seven European countries have three, and Japan has just a bit more than two.
How we got here
Social expectations for women, and religious landscapes have upended the age structure of populations around the world — and we’re only seeing the beginning.
The fastest-shrinking countries
The 10 fastest shrinking countries on Earth are in Eastern Europe, according to the United Nations. Japan, perhaps the country with the most often-analyzed demographic challenges, is only 11th.
Youth support for elders is faltering
As populations age and the number of workers shrink, governments will have to increase taxes, retirement ages, or both. Or services will have to be cut.
The immigration solution
While demographers report a link between falling fertility rates and the rise of strong anti-migrant resistance, immigration is one of the few solutions to aging, decreasing populations.
Robots to the rescue
Industrial robots are stepping in to perform the jobs of aging and missing middle-age workers in some countries.
A dangerous potential future for Nigeria
Nigeria is on track to have the third-highest population in the world, behind only India and China.
Japan’s extreme shrinking and aging
Japan is one of the planet’s cases of extreme demographic change, shrinking and growing old at a greater pace than anyone.
Some good news: Healthier people …
According to Global Aging Institute “It’s also possible — but not certain — that health spans will continue to rise along with life spans, and that may take some pressure off.
Plus we’re living longer
That suggests a much longer working life, possibly involving serial careers, and lasting well into our 70s, 80s, and even 100, say researchers with Pearson and Oxford University.
These are the facts. The question however is, how should business respond to this inevitability? Find out here.