Examining the Impacts of China’s Aging Population on Its Labor Supply from the Labor Quality Perspective*

Wang Lijun  and Ma Wenxiu
School of Economics, Hebei University, Baoding, China

 
Abstract: On the basis of sufficient considerations to the attributes of China’s development and uniqueness of population aging, this paper examines the overall impacts of China’s population aging on labor supply in the four aspects of education level, skill level, work intensity and the share of working age population. Results indicate that despite the irreversibility in the decline of labor supply under the effect of intensifying degrees of population aging in the long run, this tendency will be weakened or slowed down by the improvement in labor quality. It is expected that China’s real labor supply will not encounter a significant turning point by 2027, which is 12 years later than the occurrence of decline in nominal labor supply measured by labor quantity.
Keywords: population aging, labor quality, changes in real labor supply

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