Ageing Population And Aging Population Essay

997 Words Oct 20th, 2016 4 Pages
1. Introduction
Nowadays, the issue of ageing population is a subject of much attention in all over the world. Population ageing is a change in the composition of a country population toward older ages. This means there are an increase in the number of elderly people who are over 65 years old and a decrease in the number of younger people (Dixon, 2003). It is predicted that the trend for ageing population will continue for several decades. On the other hand, we now have more elderly people than ever. In Asia, the result of baby boomer have an impact to declining population of senior’ age. According to Vernon (2010), “Japan, Hong Kong and Singapore have the oldest populations in the Asia region, with median ages of 44.7 years, 41.9 years and 40.6 years respectively”. This is comparable to the median age in Europe about 29 years across the world and the wider Asia region.

Hence, an ageing population is important because of the consequent impact upon the ageing of the workforce. The ageing of the population presents serious problems on the global companies in terms of what the effects will be on participation rates because, as employee grow older they participate less in the labour force, retiring or leaving the workforce well before their sixties. Furthermore, the continued retirement of large numbers of baby boomers could significantly increase the existing skills gaps, which could create defiance for employers. As the baby boomer generation eases into retirement age,…

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