Population ages 65 and above for Australia
SPPOP65UPTOZSAUS • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
17.73
Year-over-Year Change
25.85%
Date Range
1/1/1960 - 1/1/2024
Summary
The 'Population ages 65 and above for Australia' trend measures the percentage of the total Australian population aged 65 and older. This metric is crucial for economists and policymakers analyzing demographic shifts and their economic implications.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
This indicator represents the proportion of the total Australian population that has reached retirement age. It provides insight into the aging of the workforce, dependency ratios, and the need for social support programs as the population grows older.
Methodology
The data is collected and calculated by the World Bank based on population estimates from national statistical offices and census reports.
Historical Context
Policymakers use this metric to forecast social expenditures, plan for healthcare demands, and understand labor force dynamics.
Key Facts
- Australia's population aged 65 and above was 15.7% in 2020.
- The share of older Australians has increased from 12.3% in 2000.
- Projections indicate the 65+ population will reach 22% by 2050.
FAQs
Q: What does this economic trend measure?
A: This trend measures the percentage of the total Australian population that is aged 65 and above, providing insight into the aging of the population.
Q: Why is this trend relevant for users or analysts?
A: This metric is crucial for understanding demographic shifts, labor force dynamics, and the need for social support programs as the Australian population grows older.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the World Bank based on population estimates from national statistical offices and census reports.
Q: How is this trend used in economic policy?
A: Policymakers use this metric to forecast social expenditures, plan for healthcare demands, and understand labor force dynamics as the population ages.
Q: Are there update delays or limitations?
A: The data is updated annually, but there may be lags in reporting from national statistical agencies.
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Citation
U.S. Federal Reserve, Population ages 65 and above for Australia (SPPOP65UPTOZSAUS), retrieved from FRED.