From Home Furnishing Business
Fast Fact: Aging Population, Impacts on the Workforce
The Bureau or Labor Statistic’s projections for 2026 highlight the growing economic pressure of the aging population on those in the workforce.
The growth in the economic dependency of ages 65 and over will increase from 24.9 people per 100 workers to 30.9 older Americans by 2026. The dependency ratio of 16 to 64 year olds not in the labor force increased steadily to 2016, but is projected to lessen slightly during the same time frame.
Children under 16 still have the highest dependency ratio, but it has declined from 45.4 per 100 to a projected 2026 ratio of 38.9.
A high dependency ratio can exacerbate the problems a government faces in health, social security & education costs, which are most used by the youngest and the oldest in a population.
For a further look into the economic dependency ratio and data methodology, click here.