Working-Age Population to Start Dropping Next Year

      November 08, 2012 12:07

      Korea's working-age population between 15 and 64 will start dropping next year due to the declining birth rate.

      Analysis of advanced nations shows that the economic growth rate could drop 5.2 percentage points for every point that the ratio of working-age people to the entire population falls, according to a report released by the Bank of Korea Wednesday.

      The report is based on analysis of data between 1960 and 2010 about 27 OECD member states that have compiled relevant statistics.

      The country's working-age population is expected to start dwindling next year after peaking at 73 percent this year. According to Statistics Korea, the proportion will likely be about 20 percentage points smaller in 2050.

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