The future workforce refers to the population of individuals who are expected to be actively employed in the labor market in the coming years. It represents the potential pool of workers that will contribute to economic growth and productivity.
Related terms
Fertility Rate: The fertility rate measures the average number of children born to women of childbearing age within a specific population. A decrease in fertility rate can indicate a potential decrease in the future workforce.
Retirement Age: Retirement age refers to the age at which individuals typically stop working and begin receiving retirement benefits. An increase in retirement age can lead to a decrease in the future workforce as fewer people enter or stay longer in employment.
Net Migration: Net migration is calculated by subtracting the number of emigrants from immigrants within a particular area during a specific period. A negative net migration indicates more people leaving than entering an area, potentially leading to a decrease in the future workforce.