demographics-economy2.72 min read "The Impending Threat: China's Shrinking Population and Its Global Ramifications"
China's working age population is shrinking, accounting for 61.3% of the total population in 2023, down from 62% the previous year, as births decline and lifespans increase. The country's total population dropped by over 2 million people to 1.41 billion in 2023, with the working age population declining after reaching a peak in 2011. This trend has led to a surge in youth unemployment, with rates above 20%, amid slowing economic growth and a mismatch between available jobs and skills. The decline in the working age population is driving the adoption of technology to meet labor needs and raise productivity, while there are still opportunities to boost workforce productivity through vocational education and tapping oversupply in rural labor.
2 years ago•Source: CNBC
