Economic pressures refer to the financial burdens and challenges faced by individuals, households, or countries as a result of economic factors such as inflation, unemployment, or limited resources. These pressures can impact various aspects of an economy including employment rates, government budgets, and standards of living.
Related terms
Aging Population: An aging population refers to a demographic trend where the proportion of elderly people (65 years old or older) in a population is increasing relative to other age groups. This trend often leads to increased demand for healthcare services, pension obligations, and decreased labor force participation.
Social Security: Social Security is a government program that provides financial support to eligible individuals who are retired or disabled. It aims to provide income security during old age when individuals are no longer able to work full-time.
Dependency Ratio: The dependency ratio is the ratio between the economically inactive population (children and elderly) and the working-age population in a given country or region. A higher dependency ratio indicates more pressure on the working-age population to support those who are not economically active.