Demographic Dividend and Working Age Population
Demographic Dividend:
Demographic dividend refers to the economic growth that can result from changes in a country's age structure, mainly when the share of the working-age population is larger than the non-working-age share. This phenomenon usually occurs when a country experiences a decrease in fertility rates and mortality rates, leading to a larger working-age population relative to dependents.
Working Age Population:
The working-age population typically refers to individuals aged 15-64 years who are considered to be in their prime working years. This group is crucial for economic growth as they are the primary contributors to the labor force, productivity, and overall economic output of a country.
Relation between Demographic Dividend and Working Age Population:
The demographic dividend is directly related to the working-age population. A larger working-age population means there are more individuals available to participate in the labor force, leading to increased productivity, innovation, and economic growth. Countries experiencing a demographic dividend can benefit from a "window of opportunity" to accelerate economic development if appropriate policies are implemented to harness the potential of the working-age population.
In conclusion, the demographic dividend is closely linked to the working-age population as they play a significant role in driving economic growth and development. Countries with a favorable age structure can leverage this demographic dividend to achieve sustainable economic progress in the long run.