The Economic Growth and the Elderly

This study explored those relationship between the mean population, unemployment rate, population growth rate, Gross Domestic product(GDP) per head and the ratio of elderly population within 6 countries from 2010 to 2015, highlighting the vital role of older workers (as measured by labor force participation of older people) in the national economy. A statistic table below illustrates the relationship between those factors and the degree of the influence with the topic. The result shows that the positive association between GDP per head and the elderly, same with the strong relationship with in the population and the elderly. Elderly population has a positive association with unemployment rate as well, but inversely proportional to the population growth rate. This indicates that the marginal impact of elderly population aging on economic growth depends on the size of population. Within different countries, the indicators are different as well. The range of countries are involved in both developed economies and developing economies, considering the population size and the economic situation, taking those representative sample to investigate the economic growth and the elderly population.