May 9, 2023
Share of U.S. population that is working age
More and more Americans are getting too old to work.
Why it matters: Even if the job market cools off from its current hotness, that could mean labor shortages will be with us for the long term.
State of play: Declining fertility rates, and increasing life expectancy, is expected to lead to a drop in working-age populations across all G20 countries, according to projections cited in a recent report from Moody's Investors Service.
- "Korea, Germany and the U.S. are expected to see the sharpest declines over the next decade," Moody's states.
Driving the news: The job market is still going strong, per the latest nonfarm payrolls report from the Labor Department.
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