Aging Population : A Global Phenomenon

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Introduction Population aging can be defined as the median age of the population increasing over time. Aging population is becoming a global phenomenon as the baby boomers are hitting the 65-year mark and fertility rates are declining. An aging population has become an issue that many countries are having to face with significant impacts in economic areas. The Canadian population has changed drastically over the last several years. As the baby boomers (the segment of the population born post World War II approximately 1946 to 1964) have grown older and become more dependent on health care and social programs to support their living. The Canadian government has become increasingly concerned with this global phenomenon as they now must invest more money in health care and pensions. This trend will continue in time as in 1971 8% of the population was 65 or older compared to today’s statistic of 14.4% of the population being 65 or older. The industrial revolution played a huge role in the demographic transition of societies and has impacted fertility rates; we have seen a large decline in fertility within Canada. On the global scale the natural rate of increase is 2.1 births per women whereas; Canada’s current fertility rate is 1.2. This, too, will have implications on society for the dependent older age sector. Furthermore, the implications of an aging population in Canada are taking great tolls on the health care sector as many of the demographic require medical support. In
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