1945

The labour force is growing more quickly than the working-age population

From the 1990s to 2005, there was rapid growth in the labour force, mainly because of an increase in female labour force participation. From 2005 to 2039, the growth rate for the labour force is very similar to the growth rate for the working-age population (15 years and over). In 2039, the two growth rates are projected to cross, with the labour force growing more slowly than the working-age population, but still more quickly than the total population. The slower growth in the labour force in 2039 is doubtless a result of a decline in labour force participation rates for the 15–19 and 20–24 age groups, linked to greater participation in education. The observed trend from 1980 to 2022 of a shrinking labour force in those age groups is therefore projected to continue through to 2050. In addition to the shrinking labour force at younger ages, another factor contributing to slower annual labour force growth is population ageing. Labour force participation rates are lower at older ages than they are for young adults and, with population ageing, older persons account for a larger proportion of the population, potentially leading to a contraction in the total labour force.

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