Demographic Aspects of Economic Development: Effects of Changes in the Size of the Main Socio-Economic Population Groups in Russia in the Context of a Demographic Wave

Abstract

Current changes in balance between the main socio-economic groups (working-age population, people of under working age and of over working age) in Russia negatively affect the country’s economic growth rate. This article will cover these changes in the context of a demographic wave. For this purpose we will use official statistical data and forecast of changes in population size up to 2050. Analysis shows that both the number people of working age and their share in the population will decrease as the number and their share of elderly people will increase and the number and their share of children may either decrease or increase. This will result in decrease in size of the employed population, in considerable increase of senior employment, in a heavy demographic pressure on the working-age population, in fall of living standards as well as in weakening of the domestic market and changes in its structure.