A population structure that has a higher proportion of middle-aged and elderly individuals than youths due to declining fertility and increasing life expectancy.
Imagine an hourglass where most of the sand (people) is accumulated at the top part (older age groups), with less sand trickling down to the bottom part (younger generations).
Dependency Ratio: The ratio between those not in the labor force (dependents) and those in the labor force (productive population).
Life Expectancy: The average period that a person may expect to live.
Fertility Rate: The average number of children born to a woman over her lifetime.
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