With 7 billon plus people on the earth coming and going there is a wide range of age from being young to being an elder. With an ever-growing population that continues to age it creates problems in the economy and society. As people tend to get older it becomes much harder for the older population to perform certain tasks that jobs would require such as speed. For some elders they start to lose mental capabilities crating struggles not for them but families as well. With the youth when entering the workforce not having any set experiences or having proper education.
All over the globe we see different age pyramids showing the range and variety of different age groups inside the set country. Japan has a population pyramids where they have a …show more content…
With this the labour market is facing labour and skills shortages many trade type jobs like pluming and other jobs like police have low employment and suffer and feels the effect of this adjustment in the labour force. Older population are leaving the work force which leaves open spaces for younger people to come in, but there is a struggle to fill these jobs. Many youth have more time spent in post-secondary education before they enter the workforce today creating a lack of experience, with lack of experience no jobs can be filled. To fill these positions training for these jobs are needed and time which is taking up resources and money from the company which is not wanted. Labour force slowing down due to the population ageing the economy would grow but at a slow pace and with this less money will be spent on goods the money will rather be spent on retirement homes. (Social, Economic & Political Effects)
Taxes will rise to fuel the many more pensions which will impact the economy but the impactions it will have on social factors will make pensions to be lower in the payout. Canadians population becomes less and less independent with age which the health care sector will see the effects of and will be growing at a rapid pace changing the government to focus their energy more towards the elder
All over the globe we see different age pyramids showing the range and variety of different age groups inside the set country. Japan has a population pyramids where they have a …show more content…
With this the labour market is facing labour and skills shortages many trade type jobs like pluming and other jobs like police have low employment and suffer and feels the effect of this adjustment in the labour force. Older population are leaving the work force which leaves open spaces for younger people to come in, but there is a struggle to fill these jobs. Many youth have more time spent in post-secondary education before they enter the workforce today creating a lack of experience, with lack of experience no jobs can be filled. To fill these positions training for these jobs are needed and time which is taking up resources and money from the company which is not wanted. Labour force slowing down due to the population ageing the economy would grow but at a slow pace and with this less money will be spent on goods the money will rather be spent on retirement homes. (Social, Economic & Political Effects)
Taxes will rise to fuel the many more pensions which will impact the economy but the impactions it will have on social factors will make pensions to be lower in the payout. Canadians population becomes less and less independent with age which the health care sector will see the effects of and will be growing at a rapid pace changing the government to focus their energy more towards the elder