- China’s working-age population continued to shrink in 2013
- Suggests that labor shortages will further drive up wages in the years ahead
From the National Bureau of Statistics on Monday:
- The working-age population (between 16 and 59) was 920 million in 2013, down 2.4 million from a year earlier
- Accounts for 67.6% of the total population
Also, though:
what’s even more significant than the shrinking working-age population was a notable decrease in the labor-participation rate, or the share of the working-age population that is actually working, Professor Li Lilin at Renmin University of China said.
“The labor-participation rate has been dropping, especially among females in the cities,” Ms. Li said.
Rising household income amid decades-long market reforms has made it possible for some who previously would have needed to work to choose to stay at home, she added.