China is facing the challenge of an aging labor force, a trend that has a significant impact on the country's labor force** and total human capital.
According to the latest Chinese Human Capital Report 2023 released by ** University of Finance and Economics, the average age of China's labor force was close to 40 years old by the end of 2021.
Especially in rural areas, the average age of the male labor force is already over 40 years old, and the average age of the labor force in five provinces has also exceeded the 40 age mark.
Although the total amount of Chinese human capital has continued to increase, its growth rate has slowed. If this development continues, will the 70-year-old man not be able to retire in the future and continue to work?
*Li Haizheng, a distinguished professor at the University of Finance and Economics, pointed out that the aging of the labor force will affect innovation and production efficiency to a certain extent, and will also have a negative impact on economic and social development.
In order to increase the country's total human capital, it is necessary to optimize the demographic structure, improve the level of fertility and education, and accelerate innovation and technological progress.
Since 1985, the average age of the labour force has been on the rise, both in rural areas, in urban areas and throughout the country. The average age of the national labour force increased from 32 in 1985The age of 25 rose to 39 in 2021He was 42 years old.
Especially in rural areas, the figure went from 31 in 198599 years old rose to 39 in 202182 years old;Urban areas were up from 33 in 198503 years old, up to 39 in 202116 years old.
After 2005, the average age difference between urban and rural areas gradually decreased, as a result of the large migration of young workers to cities.
At the provincial level, five provinces are more prominent, with Zhejiang, Chongqing and Northeast China all having an average labor force age of over 40.
Among them, the average age of the labor force in the three northeastern provinces ranks among the top three in the country, which is 41 in Heilongjiang17 years old, Liaoning 4078 years old and Jilin 40He was 57 years old.
In contrast, Hainan, Xinjiang, Guangdong, Guizhou and ** have the lowest average age of the labor force.
In 2021, China's population aged 0 to 15 accounted for 22 percent of the non-retired population0%, while the proportion of human capital in this age group is 5432%。On the other hand, the population between the ages of 25 and 45 accounts for 52 of the total labor force0%, and its human capital accounts for 500%。
The report also shows that between 1985 and 2021, the proportion of people aged 0 to 15 fell from 39 percent to 23 percent of the non-retired population, while the proportion of people aged 45 to retirement age rose from 10 percent to 24 percent. This change reflects a shift in the age structure of the Chinese population.
The report points out that the trend of the ratio of labor force human capital to human capital stock reflects the gradual decline in the proportion of young people in China and the trend of population aging.
This rate increased gradually until 1990, but has been declining significantly since 1990.
Although there was some recovery in 2005, the overall trend is still downward. The continuation of this trend, especially in rural areas, is closely linked to the history of China's one-child policy.
The one-child policy was implemented in 1979 and gradually relaxed to a two-child policy at the end of 2015. This policy has had a significant impact on the rate of population growth and the proportion of young people.
For a long time, this has led to an aging labor force, especially in rural areas, where young people have migrated to cities in search of better employment opportunities, exacerbating the problem of an aging workforce in rural areas.
The report highlights that an aging population poses a challenge to China's long-term economic development. Especially in a technology and innovation-driven economic environment, a young, well-educated workforce is essential to boost economic growth.
As a result, China** is taking steps to address the problem, including encouraging childbearing, improving the quality of education, raising the retirement age, and attracting overseas talent.
The report also makes several policy recommendations, such as upgrading vocational training and lifelong learning Xi systems to adapt to the rapidly changing labour market;
Increase investment in rural areas to reduce the development gap between urban and rural areas;and better integrating the workforce of young, female and older people to make the most of existing human capital.
Finally, the report points out that the future development of Chinese's human capital depends not only on policy adjustment, but also on the joint efforts of all sectors of society.
With the continuous progress of society and the continuous development of technology, China is expected to maintain its position as a world economic powerhouse while coping with an aging population.