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Ageing of Europe
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Ageing of Europe
The ageing of Europe, also known as the greying of Europe, is a demographic phenomenon in Europe characterised by a decrease in fertility, a decrease in mortality rate, and a higher life expectancy among European populations. Low birth rates and higher life expectancy contribute to the transformation of Europe's population pyramid shape. The most significant change is the transition towards a much older population structure, resulting in a decrease in the proportion of the working age while the number of the retired population increases. The total number of the older population is projected to increase greatly within the coming decades, with rising proportions of the post-war baby-boom generations reaching retirement. This will cause a high burden on the working age population as they provide for the increasing number of the older population.
Throughout history many states have worked to keep high birth rates in order to have moderate taxes, more economic activity and more troops for their military.
Population ageing is observed in most European countries today.
Giuseppe Carone and Declan Costello of the International Monetary Fund projected in September 2006 that the ratio of retirees to workers in Europe will double to 0.54 by 2050 (from four workers per retiree to two workers per retiree). William H. Frey, an analyst for the Brookings Institution think tank, predicted that the median age in Europe would increase from 37.7 years old in 2003 to 52.3 years old by 2050 while the median age of Americans will rise to only 45.4 years old.[citation needed]
Máire Geoghegan-Quinn, the former European Commissioner for Research, Innovation and Science, stated in 2014 that by 2020 a quarter of the population of Europe would be 60 years or older. This shift in demographics would drastically change the economic, labor market, health care, and social security of Europe.
The Organisation for Economic Co-operation and Development estimates 39% of Europeans between the ages of 55 to 65 work.
Austria's Social Affairs Minister said in 2006 that, by 2010, the 55- to 64-year-old age bracket in the European Union would be larger than the 15- to 24-year-old bracket. The Economic Policy Committee and the European Commission issued a report in 2006 estimating the working age population in the EU would decrease by 48 million, a 16% reduction, between 2010 and 2050, while the elderly population will increase by 58 million, a gain of 77%.[citation needed]
In 2002, the U.S. Census Bureau estimates the European Union will experience a 14% decrease in its workforce and a 7% decrease in its consumer populations by 2030.
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Ageing of Europe
The ageing of Europe, also known as the greying of Europe, is a demographic phenomenon in Europe characterised by a decrease in fertility, a decrease in mortality rate, and a higher life expectancy among European populations. Low birth rates and higher life expectancy contribute to the transformation of Europe's population pyramid shape. The most significant change is the transition towards a much older population structure, resulting in a decrease in the proportion of the working age while the number of the retired population increases. The total number of the older population is projected to increase greatly within the coming decades, with rising proportions of the post-war baby-boom generations reaching retirement. This will cause a high burden on the working age population as they provide for the increasing number of the older population.
Throughout history many states have worked to keep high birth rates in order to have moderate taxes, more economic activity and more troops for their military.
Population ageing is observed in most European countries today.
Giuseppe Carone and Declan Costello of the International Monetary Fund projected in September 2006 that the ratio of retirees to workers in Europe will double to 0.54 by 2050 (from four workers per retiree to two workers per retiree). William H. Frey, an analyst for the Brookings Institution think tank, predicted that the median age in Europe would increase from 37.7 years old in 2003 to 52.3 years old by 2050 while the median age of Americans will rise to only 45.4 years old.[citation needed]
Máire Geoghegan-Quinn, the former European Commissioner for Research, Innovation and Science, stated in 2014 that by 2020 a quarter of the population of Europe would be 60 years or older. This shift in demographics would drastically change the economic, labor market, health care, and social security of Europe.
The Organisation for Economic Co-operation and Development estimates 39% of Europeans between the ages of 55 to 65 work.
Austria's Social Affairs Minister said in 2006 that, by 2010, the 55- to 64-year-old age bracket in the European Union would be larger than the 15- to 24-year-old bracket. The Economic Policy Committee and the European Commission issued a report in 2006 estimating the working age population in the EU would decrease by 48 million, a 16% reduction, between 2010 and 2050, while the elderly population will increase by 58 million, a gain of 77%.[citation needed]
In 2002, the U.S. Census Bureau estimates the European Union will experience a 14% decrease in its workforce and a 7% decrease in its consumer populations by 2030.
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