By the Numbers: The Shift in the Age Structure of Australia
CLASSIC GRANNYFLATS
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Studies show that Australia’s population will likely increase to more than 38 million by 2060. The country has relatively high rates of fertility and immigration compared to other developed countries, but its population will still age over the coming years. Statistics point to the lower mortality rates as the primary “culprit”. The baby boomer population is also entering old age. The number of people aged 75 years old and above will likely increase by about 4 million by 2060. There is also an increasing number of people surviving past 100 years of age. The intense shift in the age structure of the Australian population will reveal itself in many ways.
Proportion of the Population Aged 65 Years and Above Statistics show that 1 in 7 Australians are 65 years old or older. By 2060, however, the numbers will increase to 1 in 4 Australians, and by the turn of the next century, it will be close to 1 in 3.5 Australians. This is important because people in this age bracket have low labour force participation rates; they rely on government transfers or their own savings to fund their golden years. Centenarians Data from the Australian Government’s Productivity Commission shows that in 2012, there was approximately one centenarian (a person aged 100 years or more) for every 100 children aged less than 1 year old. By 2060, the data shows that the ratio will increase to 25 to 100. With the continuous drop in mortality rates and increasing life expectancy, there will be more centenarians than babies in 2100.
Median Age In 1990, the median age of Australians was at 32. In 2012, it slightly increased to 33.7. By 2060, the median age will increase up to 42.2, and about 46 years by 2100. As the population continues to age, there may be a need to attract more people overseas to contribute to the labour force. At the same time, there might be a need for more housing to accommodate the change size, distribution, and composition of the population.
RESOURCES: http://www.abs.gov.au/AUSSTATS/abs@.nsf/Lookup/4102.0Main+Features10March%2020 09 http://www.classicgrannyflatswa.com.au/ http://demographics.treasury.gov.au/content/_download/australias_demographic_chall enges/html/adc-04.asp