Ageing of population and demographic consequences in future labour market trends

Abstract

Ageing of population in Serbia will lead to considerable decrease in labour force in the next fifty years. Such demographic transition will cause certain economic effects. The shift in working age population structure will lead to reduced activity rates and increased dependency ratios. Furthermore, as a consequence of demographic changes, the pressure on public finances will become more intensive in years to come. Moreover, the economic development and future employment rate during the intensive ageing, would very much depend on needed structural economic changes towards the industrial production. In order to strengthen and enhance the labour force, government will have to promote life-long learning programmes and active policy measures, combining them with reforms in several vital economic sectors