Author: Pankaj Chowdhury
Major classification of the working-age population
This article will provide population projections for three distinct age groups within the working-age population: individuals aged 15 to 24, who are entering the labour market after completing their education; those aged 25 to 54, who are in the prime of their working lives; and individuals aged 55 to 64, who are transitioning from their career peaks and approaching retirement. In summary, these age group projections provide a comprehensive view of a country’s population structure and its implications for various sectors, including education, employment, healthcare, and social services. Analyzing these age groups enables governments, businesses, and organizations to make informed decisions that cater to the diverse needs of individuals at different life stages, contributing to more efficient and inclusive social and economic development.
The 15-24 age group represents individuals just entering the labour market after finishing their education. Their youthful energy and potential can have a significant impact on a nation’s workforce. These projections are essential for policymakers, in order to make informed decisions related to education, skill development, and job creation. They also guide the need for educational institutions, vocational training programs, and youth employment initiatives. The 25-54 age group generally comprises individuals in the prime of their working lives, typically at the peak of their careers, contributing significantly to the labour force and the broader economy. Projections for this age group are particularly critical for labour market planning, influencing labour supply, demand for goods and services, and overall economic growth. Policymakers and businesses rely on these projections for informed decisions regarding workforce planning, labour policies, and economic development initiatives. Individuals aged 55 to 64 are in transition from their career peaks, and approaching retirement. Projections for this age group are essential to comprehend how the social welfare and labour markets are evolving. With increasing life expectancies and evolving retirement patterns, the size and characteristics of this age group can impact pension plans, healthcare services, and the need for part-time or flexible work opportunities for seniors. It also guides strategies for supporting the well-being of older citizens, including healthcare planning as well as other initiatives aimed at promoting the well-being of senior adults.
Distribution of working-age population across Indian sub-continent countries
Afghanistan stands out with a substantial 39% of its population in the 15-24 age group, closely followed by Pakistan and Nepal. This demographic trend highlights a significant youth population, which has far-reaching ramifications for sectors such as education, employment, and social development.
Across the entire region, the age group 25-54 emerges as the dominant segment of the population, with percentages ranging from 54.3% to 65.4%. Particularly, Bhutan, Bangladesh, and India also showcase substantial proportions within this prime working-age group. This demographic distribution highlights the pivotal role this age range plays in terms of the labour force and overall economic productivity. Sri Lanka distinguishes itself with a relatively higher percentage of its population in the 55-64 age group, registering at 16.5%. This demographic trait suggests that the working population is getting older, which could have an impact on important areas such as healthcare, retirement planning, and pension systems.
India stands out as the most populous country across all the subdivisions of the working-age population in the Indian Subcontinent, followed by Pakistan and Bangladesh. An interesting trend observed across most of the countries in the Indian Subcontinent is the prominence of the age group 25-54 years within the working-age population (fig: 1).
This age range typically reflects the prime working years, and its prominence underscores the significance of this age group in terms of the labour force, productivity, and economic activity in these countries. This is often considered the most economically active and productive phase of an individual's life when they contribute substantially to the workforce and the overall economy. Conversely, the age group 55-64 years holds the lowest proportion of the population in many of these countries. Numerous reasons, including as retirement trends, life expectancy, and the distribution of ages generally, can be related to this occurrence. Individuals in this age group are often approaching retirement, and while they may still be part of the workforce, their numbers tend to be smaller than younger age groups
Tags: working age population, working age population in india, population projection in india, projected population of india in 2023,
