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We saw a hint of this in the declining labour force numbers I mentioned above.
In farming, improvements in technique and equipment have made possible an increasing output from a declining labour force.
With its remarkably low birth rate and a declining labour force, no doctor would hazard a prognosis for the German economy as the infinite cash machine of the wider European economy.
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Because of the decline labour force participation, many people who don't work are no longer classified as unemployed.
The emergence of Ukip as a viable political force is the result of a declining labour market.
Germany (crisis 13) and Italy (02 crisis) have both declining labour shortages and declining unemployment.
Probably the most important consequence will be a rapid decline of labour force.
Heart disease and stroke caused significant declines in labour force participation by 27%and73%3%, respectively among the elderly in Taiwan [ 52].
As noted previously, Yamane and Jayne [ 48] and Beegle [ 49], also found significant declines in labour force participation and earnings on account of adult deaths due to AIDS in Kenya and Tanzania, respectively [ 48, 49].
The declining shares of the labour force in the total population imply a growing burden of the economically inactive population on the active one.
The sooner that investors and policymakers wake up to this, the smoother the adjustment is likely to be.* "The recent decline in the labour force participation rate and its implications for potential labour supply", by Stephanie Aaronson, Bruce Fallick, Andrew Figura, Jonathan Pingle and William Wascher.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com