Aging population has become a serious issue for many industrialized nations around the world. Lower birth rates or increasing life expectancy are the two key factors resulting in this phenomenon. Modern technology has brought tremendous breakthroughs in the medical sector that has significantly increased life expectancy rates. People are living longer than ever. Fertility rates are kept in check by governments for making decisions relating to the allocation of resources. Often, government policies may also contribute to the decline in the population. For instance, China relaxed its decades old one child policy in 2014 to deal with its rapidly declining workforce. An aging population increases the demand for retirement homes, healthcare services, rehabilitation centres. As a result, the government has to incur additional expenses on these requirements. More importantly, funds may have to be diverted from the key sectors like education and infrastructure to healthcare.
Shortage of Labour:
An aging population means, at some point, there is going to be shortage of labour due to lack of qualified and working age workers. An economy that finds it difficult to employ the needed labour suffers from low productivity, high labour costs and probable losses in the long run.
Japan had a life expectancy of 85 years in 2016. Increasing life expectancy along with low fertility rates have together contributed to the aging population of Japan. Healthcare costs become a priority for the government of such nations as they now have to incur additional expenses for keeping the health of the aging population in check. Though the aging population may have the competence to make their rightful contribution to the society, the declining workforce leads to mounting up of pressure on the productive/working population. Nations may frame liberal immigration policies to fill in the gap between labour demand and labour supply. For instance, nations like Australia and Canada encourage qualified workforce from other nations to migrate to their nation and help their economy grow. This diversification of workforce, however, isn’t always helpful as immigrants may not match the exact job profiles that need filling up.
Changes in economic setting:
An economy with a declining workforce will have different demand patterns than those with an increasing workforce. Retired people have different needs and their medical expenditure is also higher than the working age group. Investments in the healthcare sector become important for such economies. As the retired population receives only a fixed income, the government has the problem of balancing the loss in tax revenues and the additional expenditure on medical services for sustenance.
Write an 1400 essay about the following question Q.How might aging and declining populations in ...
10 marks Essay Write your answers on separate pages. l. Many populations exhibit the following growth curve: Phase A--T← Phase B Time (a) Describe what is occurring in the population during phase A (break it up into three sections as you explain the change in slope). (b) Discuss THREE factors that might cause the fluctuations shown in phase B nisms demonstrate exponential (r) or logistic (K) reproductive strategies. Explain these two strategies and discuss how they affect population size over...
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why is it important for nurses to pursue a higher education? if you're already a nurse, how would that shift affect your career? and also, how should someone's personality be like when they decide to become a nurse?
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write an argumentative essay of a minimum of 1400 words on the topic " The perspective of grade 7 teachers on the use of technology in the classroom to improve writing skills. Carefully re-read the Research Project assignment prompt, then return to Argumentative Research Project Rough Draft 1. Instructions: Compose a first draft of the Argumentative Research Project. Include a brief author's statement (1 paragraph) with any notes of consideration for your workshop group to consider as they read your draft--any areas you'd like them...
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Write 300-500 words in an essay style answer to respond to the following question: Collecting data in public health has typically been an arduous process. Lack of relevant, accurate and timely data for research to inform policy may negatively affect public health. Select one of the traditional data collection and reporting systems used in public health and one of the “new means” of data collection. Compare these methods of data collection by listing and describing the advantages and disadvantages of...
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