World Bank: Ukraine's labor force on decline.

By bne IntelliNews October 3, 2012
Ukraine's labor force said to decline by about 0.75% annually or 160,000 people a year, the World Bank said in its 2013 World Development Report on Jobs. Moreover, the WB notes that in Ukraine, the impact of aging is compounded by migration and declining fertility. By 2050, Ukrainian population is forecasted to decline to 35mn people. Fertility rates are sharply down, from about 2.0 at the end of the 1990s to below 1.5 today, albeit with an upward tick in recent years. The elderly dependency ratio is 22% and will reach more than 40% over the next 30 years. Achieving high degrees of efficiency in the labor market is the key to counterbalancing the impact of aging. The effect of this population aging on jobs is amplified by international migration. Over the last decade, about 2.5mn Ukrainians emigrated, mainly to the Russian Federation and Western Europe. Around 80,000 people leave the country every year, and recent studies have shown that the possible positive impacts of migration through remittances, return migration, and diaspora involvement have not (yet) shown their desired impacts, reads the report.

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