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Economically Active Population Shrinks

Economically Active Population Shrinks

The Asia Development Bank in a recent report recommended that Korea and Japan raise the retirement age to 69 and allow in more immigrants as their economically active populations shrinks.

ADB said Asian countries' economies grew rapidly thanks to an ample economically active population, but now "a main concern is the high and growing share of economically inactive retirees in the total population. A further concern is that, with the decline of fertility rates, labor supply will suffer, ultimately damaging the region's economic output".

ADB projected the economically active population across Asia to start shrinking between 2040 and 2050. It grew 18 percent in 2010 but will grow only six percent by 2030 and shrink five percent in 2050.

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Source from :Hancinema