Essay On Advantages Of Ageing Population

According to the UN data for aging 1950-2050 compiled by the nation population division the aged population is currently at its highest level in human history. This division has predicted that population in 21st century the total ageing population should be exceeded more than its previous century, they estimated that the number of ageing population whose age should be around 60 years and its over has tripled reaching 600 million in 2000 and escalated to 7000 million in 2006 .it further be estimated that the combined senior and geriatric population will reach 2.1 billion Older people today are significantly less likely to participate in the labor force than they were in the past. Over the past 50 years, labor force participation of persons aged 65 or over declined by more than 40 per cent at the global level. In 1950, about 1 in every 3 persons aged 65 or over was in the labor force. In 2000, this ratio decreased to just less than 1 in 5Among men, the reduction in labor force participation

Older people have higher accumulated savings per head than younger people, but spend less on consumer goods. Depending on the age ranges at which the changes occur, an ageing population may thus result in lower interest rate and the economic benefits of lower inflation. Some economists (Japan) see advantages in such changes, notably the opportunity to progress automation and technological development without causing unemployment. They emphasize a shift from GDP to personal well-being. The expectation of continuing population ageing prompts questions about welfare states’ capacity to meet the needs of their population. In the early 2000s, the World’s Health Organization set up guidelines to encourage “active ageing” and to help local governments address the challenges of an ageing population (Global Age-Friendly Cities) with regard to urbanization, ousting, transportation, social participation, health services,