1-27 Case Question
Demography is the study of the structure of human population which includes the size of the population, the composition of the population’s age, the gender mix as well as the population growth. The following is a summary obtained from the Census Bureau’s International Database “United States Census Bureau” providing analysis of two countries. The results of the analysis will provide a summation of the country that faces a more favorable demographic future.
The data provided for Iceland shows an increased population over the next twenty years with a stabilized average life expectancy. The old-age dependency ration shows a decline over the next twenty years meaning that there should be more burdens imposed on the twenty to sixty-four age groups to support the retired and elderly. Iceland’s economy is supported by the high production of electricity and the fishing industry “Icelandic”. While some economies are concerned about turnover of retirees and the loss of knowledge, Iceland has a strong workforce in this industry and continues to support technological advancements.
The Census Bureau provided that Belgium, a world leading Finished Metals provider “Belgium- Industry”, shows an overall increase in population over the next twenty years. The typical life expectancy will not increase over the next twenty years which could have an impact on the economy if the life expectancy were to increase. Data provided by the Census Bureau International Database shows that the old-age dependency ration will decrease over the next twenty years which will increase the burden on the younger XXXXXXXXXXage workforce to provide more support for retired and graying (65+) populations. Belgium’s economy relies heavily on the production and exporting of iron and steel plus other metals. This industry is not prone to losing extensive knowledge as the elderly workforce retires.
If one were to compare these countries to determine which one faces a more favorable demographic future, you would find that both countries will have a decrease in old-age dependency ratio, which indicates that the working population will have a higher burden to care for the retired and aging. However, the data provided by the Census Bureau indicates that the burden will be less in Belgium over the next twenty years. Therefore, Belgium, as compared to Iceland, faces a more favorable demographic future.
Works Cited
"United States Census Bureau." International Programs. Web. 28 Aug. 2015.
"Icelandic - Seafood, Food, Marine, Agricultural and Food - Manufacturing, Products - From, in Iceland." Icelandic - Seafood, Food, Marine, Agricultural and Food - Manufacturing, Products - From, in Iceland. Web. 28 Aug. 2015.
"Belgium - Industry." Industry. Web. 28 Aug. 2015.