ANALYSIS OF THE IMPACT OF CHINA'S POPULATION AGING ON LABOR SUPPLY

Abstract

This paper analyzes the impact of population aging trends on the supply of labor in my country from the perspective of labor economics, and analyzes the current situation of population aging and labor supply in China through data analysis of China’s demographic statistics. Then, corresponding countermeasures were proposed in three aspects: improving the age structure of the population, increasing the labor participation rate of the elderly population, and improving the quality of labor supply.According to the National Bureau of Statistics of China, there were 113.07 million people aged 65 or above in China in 2009, accounting for 8.47% of the total population , which indicates that China entered an aging society in 2009.With the deepening of aging, the scale, proportion and age structure of the labor force will undergo a series of changes, which will have a certain impact on the supply level of labor force, and then affect the sustainability and stability of economic and social development. With the deepening of population aging, the proportion of the elderly population in the total population will continue to rise, leading to a gradual decline in the growth rate of labor force, a gradual decline in the proportion of working-age population, and a gradual decrease in the scale of labor supply. The research results of many domestic and foreign literatures also confirm this conclusion.