Recently Alan Nevin took a dive analyzing the latest report by the Population Reference Bureau to see how the United States fares in comparison to the rest of the industrialized world. The major trend that is impacting the industrialized world's economy is the aging workforce; two underlying demographic forces are driving this change:
- People are working longer and later in their lives than before - in the U.S., 24% men & 14% women over 65 are still in the labor force
- The labor force of young people is declining, from both lower birth rates and extra time spent in school. Another factor is the rise of NEET among youth (not employed, education or training).
Those who have read The Great Divide or Alan's previous article on Immigraion & Babies already know that as far as birth rate goes, the United States is stable compared to Europe, Japan & South Korea and our population growth comes from immigration. You can read Alan's full article at the Lambda Alpha International website where he compares U.S. demographics with other countries and outlines the implications.