Description
We were 22 million of us in 2012. If the levels of economic activity remain at the current level, the number of the labor force can be reduced by 40% by 2060. But this can be partly fixed.
Using UN forecasts on population number and ILO forecasts for economic activity levels, as well as using different scenarios, it is calculated how the number and age structure of the workforce in Ukraine in 2020-2060 will change. It also presents how labor productivity should be changed in order to prevent a reduction in the average level of income (GDP per capita) if the levels of economic activity will be at the current levels. Later we will discuss how we can increase productivity in aging populations countries and respond to other challenges of aging, using the analysis conducted by the World Bank economists and presented in the report «Golden aging: prospects for healthy, active, and prosperous aging in Europe and Central Asia».
