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Effects of Growing Aging Population on the Work Force Essay Example

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Effects of Growing Aging Population on the Work Force

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In 1971, median age was 26. The seniors thus consist of fastest-growing age group. The tendency is envisioned to continue as the average number of children is low. In 2011, about 5 million Canadians aged over 65 years of age. The size of the population is projected to double in the coming 25 years to about 10.4 million people by 2036.For Canada (2012), in 2011, Nova Scotia had the highest number of aged people. Compared to the total population of the aged, Nova Scotia had 16.5 % in 2011. Growth rates of the aged population differ among provinces. It is expected that by 2036, Labrador and Newfoundland would have the highest percentage of aged people. In 2012, an estimated 21% of Canadians aged over 60 years. By 2030, the proportion is expected to increase to about 28.5% and 31 percent in 2050. A third of Canadians population would thus be made of aged people.According to the United Nation- backed study, the Canadian society is dealing well with its senior population. Canada was placed fifth by Globe Age Watch Index. Canada came fifth after Germany, Netherlands, Norway, and Sweden. The United States came eight. The index drew its data from the World Health organization, World Bank, UN Population Fund, and several other international organizations. It looked at four features of old-aged quality life, which are health status, income security, education, employment, and the perceptions of older people of social connectedness. Canada scored highly on health status. She was ranked second to Switzerland. However, she lagged behind in income security and was placed 26th.4 % old-age poverty rate caused Canada to drop to the position (McPherson & Wister 2014). About a quarter of people in Canadians aged over 65, live without pensions.According to Karpinska (2013), labor force in Canada is complex as several factors affect it. However, the key important factor is the aging population, which is influencing the labor force. People aged 55 and over rose rapidly in the last few years. Demographic projections by Statistics Canada postulated that aging of labor providers would increase steadily as the baby boom group age.According to Haerens (2014), Canadian labor force is expected to grow to 20.5 and 22.5 persons by 2031. The increase would be a rise from 18.5 million persons in 2010. The share of the labor force among people aged 15 years and above is projected to decrease in the coming years.

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preview essay on Effects of Growing Aging Population on the Work Force
  • Pages: 10 (2500 words)
  • Document Type: Essay
  • Subject: Sociology
  • Level: Ph.D.
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