«Aging Population and Labor Law Policy»
MARCH 26, 2025
The Asia-Pacific is the region with the fastest-aging population in the world. The region is expected to experience population aging over the next 27 years at a rate like that experienced by high-income countries in other parts of the world over the past 60 years. The ratio of the population aged 65 and over to the population aged 15-64 is projected to rise from 0.15 in 2023 to 0.31 in 2050. The economic dependency ratio, defined as the ratio of those not employed to those employed among the region’s working age-population, is projected to rise from 0.72 in 2023 to 0.90 in 2050, which will translate as almost one dependent per employed person in the region. This rise is due to a decline in the labor force participation rate from 60.9% in 2023 to 54.9% in 2050, driven by population aging in the region. [1] Population aging poses significant challenges that require the restructuring of various aspects of society, affecting labor markets, social security systems, and economic and fiscal policies. Companies in many countries and sectors are facing severe labor shortages because of population aging, which will increase the need for older people to work longer. To promote the social participation of older adults through employment and to ensure that they can work safely and comfortably, reforms in employment systems, vocational training and improvements in the work environment are crucial. Therefore, this seminar aims to share information and knowledge on the current state of ageing populations, policy responses in different countries and the implications for enterprises and workers. It will also discuss future challenges and initiatives for solutions.