Summary
The Philippines is experiencing a decrease in population growth as fertility rates drop below the level needed to maintain it. This change in demographics presents challenges and opportunities for the country's economy, particularly concerning job creation and youth employment. Officials emphasize the need for coordinated efforts to address these issues and support the aging population.
Key Facts
- The Philippines has a fertility rate of about 1.9 births per woman, below the replacement level of 2.1.
- The country's population growth rate decreased to 0.8% annually from 2020 to 2024.
- By 2030, 7% of the Philippine population will be 65 years or older, marking it as an "aging" society.
- The current demographic shift could lead to economic risks if job opportunities are not aligned with the youth workforce.
- The Philippines lacks the social and health infrastructure seen in more developed countries to support its aging population.
- Officials stress the need for comprehensive human capital development and economic job creation.
- The decline in fertility is primarily due to improved living standards, with marriage and contraceptive use being secondary factors.
