Australia’s Ageing Population Demographics
From Business Spectator:
‘Arthritic Australia: What the ageing population will do to growth. Most market analysts spend little time thinking about demographics, which is a shame because they pose a significant threat to the Australian and global economies. Japan’s experience suggests that with a rising share of our population retiring it will be practically impossible to maintain existing levels of economic growth, which will only be compounded further by most developed countries suffering the same problem at the same time.
Yesterday the Australian Bureau of Statistics released its quarterly report on Australian demographics. It received little media attention but it highlights one of Australia’s greatest economic challenges — one that will be shared across most of the developed world.
Over the past few decades, Australia has experienced favourable demographics that have helped to boost growth. Until recently Australia had a relatively young population, flush with working-age individuals. That, combined with strong population growth and a once in a lifetime mining boom, created an environment perfect for strong growth.
But in recent years, that process has begun to change and our demographics are beginning to work against the Australian economy. The first of the Baby Boomer generation hit retirement age in 2011 and since then we have witnessed a sharp decline in the labour force participation rate…..’
In the comments some of the Sustainable Population Party spruikers play hard and fast with the facts e.g. ignoring statistical change in 2006 which now includes temporary residents or ‘churnover’, describing international students, 2nd year backpackers etc. as ‘ímmigrants’, suggesting they are permanent and will be claiming pensions etc.
No surprise that they are informed by Dr. Bob Birrell of Monash University and white nativist John Tanton’s anti immigration network which demonises non European foreigners and immigrants e.g. ‘Stable Population Party Australia ‘green-washing’ racism’.
For more news and information about international education, immigration and population click through.