ANZ analysts Richard Yetsenga and Toby Roberts have penned an article, entitled “Why Australia is going to run out of workers”, which claims that Australia risks running out of workers as its population ages and its economy shifts towards services. From The AFR:
We all know Australia’s population is ageing – by 2030, almost 20 per cent of the population will be older than 65. We also know that Australia’s economy is increasingly reliant upon the service sector. Our modelling predicts that services will comprise an even greater proportion of the economy by 2030 (up 5 per cent to 77.3 per cent), due in part to increased health spending and new export opportunities in Asia. But few of us are thinking about the way these forces will collide.
