“America’s 65-and-over population is projected to nearly double over the next three decades, ballooning from 48 million to 88 million by 2050. However, the U.S. Census Bureau projects the U.S. population will age at a slower rate compared with other countries.Worldwide, the 65-and-over population will more than double to 1.6 billion by 2050, according to An Aging World: 2015. This new report from the Census Bureau examines the continuing global aging trend and projected growth of the population age 65 and over, with an emphasis on the differences among world regions. In 2015, 14.9 percent of the U.S. population was 65 or over. “The United States was the 48th oldest country out of 228 countries and areas in the world in 2015,” said Wan He, a demographer on population aging research at the Census Bureau. “Baby boomers began reaching age 65 in 2011 and by 2050 the older share of the U.S. population will increase to 22.1 percent. However, the U.S. will fall to 85th because of the more rapid pace of aging in many Asian and Latin American countries.” Japan is the current oldest country in the world and will retain that position in 2050. “However, South Korea, Hong Kong and Taiwan are projected to overtake Germany, Italy and Greece for second, third and fourth place by 2050,” He said. Some countries, including China, India, Indonesia, Brazil, Colombia and Cuba, will experience a quadrupling of their oldest-old population, those 80 and over, from 2015 to 2050. While Europe is still the oldest region today and is projected to remain so by 2050, aging in Asia and Latin America has accelerated in recent decades. Asia is also notable for leading the world in the size of the older population with 341 million people 65 and older. On the other hand, Africa remained young in 2015, where only 3.5 percent of the total population was 65 and over.

• Labor force participation among the older population continues to rise in many developed countries, yet remains highest in low-income countries.
• The last recession had a major impact on unemployment rates and financial assets among many older people in more developed countries. However, the trend of rising labor force participation rates among the population age 60 and older in these countries was not halted….”