Population by Age Group US Savings and Investment and their Correlates Age pyramids for EU25 population 2004 and 2050 Projected employmentrates and Lisbon targets Projected working-agepopulation and total employment, EU25 Employment Projections
potential economic growth hinges primarily upon the change in the working-agepopulation ... population on living standards can more closely be observed by looking at growth rates in terms of GDP per capita. Given that the total population growth rates are expected ... GDP per capita growth: growth rates and levels relative to EU15 average GDP per capita growth rates (%) 2004 – 10 2011 – 30 2031 – 50 BE DK DE GR ES FR IE IT LU NL AT PT FI SE UK CY CZ EE HU LT LV MT PL SK SI EU25 EU15 Euro Area EU10 Source: EPC
on demographic drivers Projected employmentrates in EU Member States, 2004-2050 Peaks and troughs for the size of the working-agepopulation and the number of persons employed (aged 15-64) Projected GDP growth rate in each EU25 Member States, its sources
Due to growth in: Share of workingagepopulation Productivity (GDP per person employed) GDP per capita growth in 2004 – 2050 GDP growth in 2004 – 2050 Capital deepening Total PopulationEmploymentRate Labour input TFP 10=1 – 7 1=3+6 3=4+5 6=7+8+
potential economic growth hinges primarily upon the change in the working-agepopulation ... population on living standards can more closely be observed by looking at growth rates in terms of GDP per capita. Given that the total population growth rates are expected
(65+) rises faster than the workingpopulation (20 – 59) due to the ageing ... will fall in the long run through negative employmentrates. Moreover, productivity tends to decline with an ageing labour force, which lowers the growth rate ... Table 12.1 Main macroeconomic assumptions Baseline Scenario Productivity Employment – 0.2 – 0.9 – 0.8 – 0.8 – 0.8 – 1.0 – 1.3 – 1.3 – 1.4 Real GDP Growth* Inflation Real interest rate Sources: *Jongen (2004) and author’s calculations
Source: EPC and European Commission (2006), Carone et al. (2005). Note: The trough for the size of the working-agepopulation is the last year of projection ... Peaks and troughs for the size of the working-agepopulation and the number of persons employed (aged 15 – 64) Table 4.3 working-agepopulation (15 – 64) % change 2003-peak Employment (15 – 64) % change 2003-peak % change peak-trough – 10.0 – 9 ... about the impact of ageing on