Global Census

April 2019

Global Census

We are no less than seven billion seven hundred million people! This was reported in New York by the Deputy Secretary-General of the UN Amina Mohammed at a session of the Population Commission. She voiced a plausible prediction that 11 billion people will live on this planet in the next century. Although the birth rate has been steadily declining for the last quarter of a century, life expectancy has been on the increase. Now the average person dies at the age of 72.

Population aging is one of the most serious problems for the modern economy. In the middle of the next decade, the number of those over 65 will reach one billion. A reduction in the working-age population and an increase in the number of retired people will lead to a slowdown in money turnover, a reduction in investment and, consequently, stagnation. Some governments have already adjusted their retirement legislation by raising the retirement age for their citizens. The public views these unavoidable measures extremely negatively, which has led to an increase in social tensions. According to experts, such government measures do not protect against future crises.

Instead of encouraging employers to hire retirees, the shortage of workers makes companies automate their production. This also reduces the employment opportunities for older people with a low level of education and qualifications. For this reason, in many industries older staff have to quit their jobs or shift to low-paying jobs. This trend is gaining momentum in most economic sectors. Against the background of a stable increase in the cost of living, such processes do not add optimism to social relations. The conclusion is obvious - if no measures are taken, changes in the demographic balance will increase social tensions even in well-to-do states.