Is The Labor Shortages Fear?

In general, countries experiencing high fertility and rapid population growth, have a “young” population structure and the important policy considerations are if there are enough schools and, sufficient jobs and housing to accommodate this population. Countries with “old” population structures face the problems of structuring and developing retirement and health systems to serve this older population and also they have a considerable reduction the number of the working force. The decline of the work force is one of the most dramatic economic tendencies of the past four decades in the United States. The individual’s decision of whether to stay in the workforce or to retire is based on the collaboration of a number of factors including the following: eligibility for Social Security benefits, availability of and benefits under an employer-financed pension plan, work

The aging of the baby boomers is not just a demographic issue. It has important economic implications. Owen and Griffiths (2010) argue that the baby boomers can best be seen as a generational bulge that occurred between 1946 and 1964. This generational bulge is so large that it drives the economy during each state of the baby boomers lives (p. 76). This suggests that the aging of the baby boomers is a demographic issue with important economic implications.

problem at hand is the rising rate of unemployment. This problem must be dealt with

The recent Guardian newspaper’s investigation published on March 2016 studying the disposable income growth of generations also points out the Australian exception. Using LIS data, The Guardian’s journalists show Australia to be the only country in which individuals aged between 25 and 29 have experienced income gains between 1980 and 2015. Australia’s economic performance have also scarcely equaled in developed countries, boasting a decreasing unemployment rate of 5.5% in July 2016 only 1.5% higher than the 2008 record low of 4% (ABS).

While these aspects of society certainly do impact a nation with a growing older population, they are not the most problematic. Financial instability of the country should not be the spotlight of concern, but as people are living longer, people should be more concerned with that the typical life should look different in the future. With this in mind, the article proposes other areas of concern: lack of incentive for volunteering, little to no new education for older adults, and massive technological change with no way for older generations to learn how to use it. If these areas are not provided with change, it will ultimately lead to economic hardship for the elderly, due to the lack of new education and technological knowledge, which would, in turn, able them to work longer. If older generations were able to stay in the workforce longer, our aging society, which people believe may eventually not have a large enough work force, would be able to avoid this presumed

There is no doubt that the ageing population is a subject which has attracted much attention of Governments and communities in the world. Even in Australia, it is considered as one of the most crucial challenges which will have to confront in the next 25 years ( Hugo, 2014). Population ageing is defined as a change in the age structure of a country toward older ages. This is the repercussion of many elements such as the declining fertility rate, baby boom period and advanced technology in medical and healthcare extending longevity.While a number of studies have been done into proving this trend having several negative effects, it can be argued that there are many beneficial impacts both on national economy and society. This essay aims to look at the positive influences of older population on the workforce, then the Australian Government Budget, and finally the community.

Labor shortage will stay an important component that can affect as well the access to

The search for information on a vast generation known as “baby boomers,” was quick and easy. The History Channel, once again provided attractive information such as text and audio clips. Nine months following the end of World War II, a new type of generation kicked off. Prior to this generation the population increased linearly, but now it was growing at an exponential rate. This large generation was praised for preventing recessions but may possibly cause problems in social welfare in the future.

Throughout the world and throughout history, the young have always outnumbered the elderly. Over the next 40 years this will change. The population over 60 will grow by one billion to a total of two billion. For the first time in human history there will be more people over 60 than under 15. One in every five people will be elderly. In 1950 there were twelve working people for every elderly person, today nine working people and in 2050 4 working people. More money will go out and less money will come in. (HelpAge International, 2014) Economies will face a change in terms of growth, savings, debts, investment, consumption, labor markets, pensions and taxation. Social impacts will consist of changes in family composition, living arrangements,

This journal article overviews the new realities of aging as they are shaped by contemporary social and economic contexts and the processes that give rise to them. It reviews the outcomes and implications of aging as it relates to contemporary social and economic contexts; and it features the importance of viewing the science of human aging through a sociological lens.

This rapidly aging population indicate that countries will count with less working-age people in their economy. The private sector tends to discriminate people over 50 which limits their participation in the labor force affecting the economy of countries. “Businesses will soon have little choice but to be more attentive to the needs and capacities of older employees; their ability to adapt could become a source of competitive advantage.” (Bloom et al). A huge transition is coming, and we have to be prepared to deal with those

However that is not the case in today’s society amongst seniors. Seniors still have the desire to work or they actually have to work in order to sustain their own well-being. In this article it discusses the motive for what drives seniors to continue working, “Polling of CARP members shows that about half of seniors want to work and half need to work, Eng says. Those who choose to work enjoy the sense of engagement and contribution that paid employment brings” (Luke, 2014). This context ties in with the age stratification theory, which states that it “focuses on the movement of age cohorts over the life course” (Novak et al., 2014 p.26). Seniors wish to continue working which will cause conflicts between two age cohorts. Age cohorts are defined as a group of people born in the same period of time (Novak et al., 2014 p.26). Baby boomers are individuals born after World War 2 and the younger individuals are either from the MTV generation or boomerang generation Younger generations whom are searching for job opportunities will be facing further competition. The notion of old age in previous is to stop working and retire. However this article states that “The idea in the past that at a certain age you just quit — you stop working, stop dressing, stop getting engaged in politics — is changing,” The agenda for seniors now is to continue working rather than

As society continues to evolve over years, each country of the world will be developed more rapidly than before. In such cases, there will be some fierce competitions between countries, and these oppositions have related to some phases, such as its global economy and social lifestyles of its citizens. Countries have more oppositions with each other in the aspect of its labor and economy than any other features. In previous years, enough labor forces could support the growth of the national economy of a country because they had available jobs to do. Nevertheless, the demand of the labor and economy is different than what it’s used to. The population has surpassed the acceptable size, and industries in the labor force are surplus. For the moment, technology, skills, and machinery have become the trend of the global economy.

The author shares that normally a population forms a triangle with the younger adults serving as the broad base and older adults as the tip of the pyramid, which leaves an adequate quantity of wage-earning young adult taxpayers to support the smaller number of older adults (Wright, 2005). He says when older adults outnumber young adult taxpayers or, when the age structure is inverted, social disaster can quickly follow (Wright, 2005). This critical issue will not only

Nowadays, the world’s population is becoming older. Even in China, which has almost 19 percent of the world’s population (Xinhua, 2011), some coastal cities are still facing the crisis of hiring enough laborers (Rapoza, 2011). In this situation, all transactions that need laborers will face the challenge of salary rising which is a potential burden for corporations. Also, in order to balance this extra expense, companies must sell their products at a higher price which doesn’t strengthen their competitiveness. At the same