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Aging Demographic

Definition

An aging demographic refers to a population that has a relatively high proportion of elderly people compared to younger age groups. It occurs when fertility rates decline while life expectancy increases, leading to an increase in the median age of the population.

Analogy

Imagine an amusement park with mostly older adults enjoying the rides while there are very few young children around. This represents an aging demographic where there are more elderly people than young ones.

Related terms

Dependency Ratio: The dependency ratio is a measure that compares the number of dependents (typically children and elderly) with those who are working-age. A higher dependency ratio indicates a larger burden on the working-age population.

Geriatric Care: Geriatric care refers to medical and social support services specifically tailored for the elderly population. It includes healthcare, nursing homes, assisted living facilities, and programs that address the specific needs of older adults.

Pensions: Pensions are regular payments made to individuals after they retire from their jobs. They provide financial support to retirees who may no longer have a steady income source and are an important aspect of addressing the needs of an aging population.