Type of Content: News
Subtype: Newspaper or Magazine Article
Resource Title: Fewer Working-age People may Slow Economy. Will it Lift Pay?
Publication Title: Associated Press
Publish Date: July 3, 2021
Globally, workforces in most other countries are also aging, including in China, which once seemed to offer an inexhaustible supply of workers. Japan’s population has shrunk for a decade.
Pradhan said that trend could potentially benefit American workers. Since the end of the Cold War in the early 1990s, hundreds of millions of people in China, Eastern Europe and India have joined the global workforce, thereby holding down wages for lower-skilled workers and keeping prices in check.
Resource URL: https://bit.ly/2UKqfRg