Peru's demographic bonus will run thru 2047, thus giving the Inca nation a major competitive advantage, National Institute of Statistics and Informatics (INEI) Head Anibal Sanchez projected on Monday.
A demographic bonus or dividend is the period during which the labor force (age 15-65) outnumbers the dependent population (children and retirees).
"The demographic dividend should last for 30 more years. Luckily, the bulk of our population is devoted to work. Most of it ranges from 15 to 65 years old and is at full capacity to work, save and invest," Sanchez told State-run TV Peru station.
However, realities change when shifting the analysis to a regional level.
"We can see the population in Lima and Arequipa regions are aging faster than their highland and jungle counterparts, where the demographic bonus is stronger," the economist observed.
Birth rate
In the same vein, Peru's birth rate has been falling for the past 50 years, and the population growth rate continues to slow down.
"Both in Peru and the world, women increasingly delay the birth of their first child. Likewise, their presence in the labor force has also led to fewer offsprings," he explained.
Proper employment
On the other hand, the INEI head stressed proper employment has been on the rise in recent years, and currently accounts for nearly 60% of the economically active population (EAP).
"The remaining 40% is made up of underemployed [33%] and unemployed [7%] people," he added.
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