Working Age Population
The "Working Age Population" refers to individuals typically between the ages of 15 and 64 who are considered eligible to work. This group includes both employed and unemployed individuals actively seeking employment. The size of this population is crucial for understanding a country's labor market and economic potential.
Changes in the working age population can significantly impact a nation's economy. Factors such as birth rates, immigration, and aging populations influence its size. A larger working age population can lead to increased productivity and economic growth, while a declining population may pose challenges for sustaining economic development and social services.