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Australia: Skills push to lift output in face of ageing population

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Mon Feb 01 2010

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(From theaustralian.com.au) CONCERN about a looming and long-term shortage of skilled workers has been reignited by the release of a landmark government report, which confirms that productivity

growth is critical to counter the impact of the ageing population.

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As

Wayne Swan launched the 2010 Intergenerational Report yesterday,

business groups demanded reforms and policies to boost productivity

amid a shrinking pool of available workers.

According to the

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report, by 2050 the number of Australians classified to be of working

age (15 to 64 years) is forecast to fall from 67.4 per cent to just

60.2 per cent. The number of Australians aged over 65 is expected to

soar, rising from 13.5 per cent of the population to 22.6 per cent,

placing mounting pressure on the nation's health system and social

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services.

The ratio of workers to those Australians past retirement age will fall from five currently to 2.7.

Read more.

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