Ching Choi and Peng Yu
Population ageing can contribute to a shortage in labour supply. An obvious and popular response to this is to encourage workers to delay their retirement.
While Australian labour force participation rates among older men are showing signs of increase recently after long term declines and rates among women have continued to increase gradually, these rates are still below the Organisation for Economic Co-operation and Development (OECD) average, and for most age groups they are lower than those in the USA and New Zealand and much lower than in South Korea and Japan. Delaying retirement in Australia is therefore a possible policy response to the ageing of the population.
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