6 5 4 3 2 1
0 1
2 3 4 5 6
Our Changing Workforce
Growth in the working age population will slow
dramatically over the next 20 years – an
increase of 18% compared to 40% 1995-2015.
Aged dependency will increase. As populations
age, a greater number of retirees will need to
be supported by a shrinking labor force.
Demographic forces are exerting pressure on the world’s future labor force. Population aging is one of
the most significant of these forces, which will aect not only the future size of the workforce but also
its composition. Globally, while growth in the working age population will continue, the rate of growth
is projected to slow. This will present opportunities and challenges at the regional and national level.
Growth in working age population to slow
Gen Y to dominate labor force composition
Aged dependency to increase
Japan’s sharp decline in labor force
By 2035, Baby Boomers will no longer be part of
the workforce in OECD countries, while Gen Z will
exceed Gen Y in working age population size.
Number of workers per retiree
Millions
Japan is forecast to experience a 15% decline in working
age population between 2015 and 2035.
100+
95-99
90-94
85-89
80-84
75-79
70-74
65-69
60-64
55-59
50-54
45-49
40-44
35-39
30-34
25-29
20-24
15-19
10-14
5-9
0-4
ABSOLUTE WORKING AGE POPULATION GROWTH
1
2
5
42
6
60
21
36
32
1
2
3
4
5
17
35
49
56
JAPAN
ITALY
GERMANY
HONG KONG SAR, CHINA
PORTUGAL
EUROPEAN UNION
SINGAPORE
UNITED KINGDOM
OECD MEMBERS
UNITED STATES
AUSTRALIA
WORLD
2.3
2.9
3.1
4.8
3.1
3.4
6.2
3.6
4.0
4.5
4.4
7.9
1.8
1.8
1.8
2.0
2.0
2.2
2.3
2.6
2.6
2.8
3.1
4.9
PERCENT WORKING AGE POPULATION GROWTH
% of working age in
1975-1995
1.069 Billion
55%
1995-2015
1.217 Billion
40%
2015-2035
757 Million
18%
BABY BOOMERS
GEN X
GEN Y
GEN Z
31%
25%
41%
2%
2015
11%
25%
41%
24%
2025
0%
41%
46%
2035
13%
Global Rank
(2015)
2015
2035
Global Rank
(2035)
2035
2015
Males
Females
Working
Population
DOMINIC BROWN
Head of Australia & New Zealand Research
dominic.brown@cushwake.com7