SA is becoming a country of old people. Median age has risen from 23 to 27
What is the average age of a South African? It is going up or is it going down? Are we seeing on average that South Africans are getting younger and younger?
The median age which was at 23 should have gone down even further because of birth rates probably increasing, but it hasn't. It has gone up to 27. It seems like a statistical anomaly, but these are official statistics.
Lumkile Mondi, a senior lecturer at the School of Economics and Business Science Wits, sheds light on this.
We are getting older the further, the shift in the median has gone up to 27. In the past eight years, we had a relative low median, meaning that the opportunity of a younger population which we call a democratic dividend, which meant that our working-age population was larger and therefore in theory should have led to high levels of productivity. and followed by high economic growth.Lumkile Mondi, Senior lecturer, Wits School of Economics and Business Science
It seems to be that we have missed that democratic dividend, the birth rate is stabilising and is slow. We are getting older, were are becoming timers.Lumkile Mondi, Senior lecturer, Wits School of Economics and Business Science
A lot of skills and knowledge that has driven a lot of the growth in the past is going to be undermined because those who are becoming elderly will need the attention to be protected by a health system as well as access to some income when they are not employed...putting pressure on state revenue.Lumkile Mondi, Senior lecturer, Wits School of Economics and Business Science
On the other hand, because we are growing older in our environment, where most of the youth have been located in services-oriented industries, some of which are experiencing lockdown such particularly if you look at tourism, restaurants and the broader hospitality industries where most of the youth have been, this closure they may see them pushed outside the labour market.Lumkile Mondi, Senior lecturer, Wits School of Economics and Business Science
Listen below for the full interview...
This article first appeared on 702 : SA is becoming a country of old people. Median age has risen from 23 to 27
Bruce Whitfield interviews Whitey Basson who says it's just not good enough for govt to say the ban will be lifted but not when.Read More
Bruce Whitfield talks to MTN CFO Ralph Mupita about the reasons for the move and the company's huge profit increase.Read More
"It’s not rational to allow packed taxis, but not a glass of wine in a controlled environment," says Francois Rossouw.Read More
Samsung's latest offering, the Galaxy Note20 smartphone, goes on sale in South Africa on 21 August as Kieno Kammies finds out...Read More
"If I was President Cyril Ramaphosa, I would take these suggestions seriously," says the UDM leader Bantu Holomisa.Read More
Marc Lubner on the NGO's programmes for young South Africans and how working with Nelson Mandela inspired his life's work.Read More
Involved in an accident you didn't cause? Third party claims don't pay out much. Wendy Knowler shares one driver's horror story.Read More
Liberty's David Munro tells The Money Show its R3b pandemic reserve shows the insurer 'truly living out its purpose'.Read More
Despite being one of the few animals that think about the future, we don’t think far enoughRead More
The Money Show's Bruce Whitfield interviews Johannesburg Stock Exchange boss, Leila Fourie.Read More