Content the link connect duplicated! 2.3. Changing perceptions
Korea’s moving on demographics sells high demands, perhaps not minimum for future years of one’s Korean savings. OECD projections suggest that, to your newest trend, the measurements of the latest Korean labour force is set to refuse of the about dos.5 billion workers over the second few , so you’re able to a projected 25.0 million when you look at the 2040 (Contour dos.7). This may has actually biggest ramifications to own economic overall performance. The combination away from a shrinking labor force and you may an ageing populace might place big pressure for the social funds, just like the interest in bodies spending on health care and you will pensions expands while the offered staff declines.
not, thankfully one to, in extremely experienced feminine inhabitants, Korea keeps a skilled and you may already around-put put aside away from labour. OECD projections highly recommend the latest asked reduction in the size of the latest Korea work push over the next couple of ages will be more offset by improving women’s labour force participation for the part where they suits men’s room participation because of the 2040 (Profile 2.7). Moreover, as more youthful Korean women can be very excessively well-qualified, getting so much more women towards the labour force would help raise functioning levels of peoples money, consequently, potentially riding returns increases and boosting economic efficiency.
Figure dos.seven. Closure brand new gender contribution gap you may mitigate this new looming lowering of how big is the brand new Korean labour force