Sociology 3315F/G Chapter : Guillemette- Slowing Down with Age
18 Jan 2012
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The ominous implications of workforce aging for standard of living. The projected ratio of working population to nonworking population once the baby boomers retire means that cnd will need to increase labour productivity to maintain past rates of standard of living (sol) growth. An older workforce will be less productive and contribute less working hours. Support ratio: the size of the workforce compared to the working age population (15 and over) \ expected to fall from 61. 3%: 2001 to 51. 7%: 2041. \ the workforce will need to be 20% more effective to maintain current rates of sol growth. [[ historical sources of cnd real output growth. Mfp: residual growth not directly calculated by the production factors of labour and capital. > labour has historically been the biggest reason for growth, but recently. { multifactor productivity and the changing age structure of workforce:
