Population to plummet, council warns

INCREASING IMBALANCE: The percentage of working-age people is expected to shrink to 42.3% of the population, while older people would comprise 52.9%, the agency said By Crystal Hsu / Staff reporter Add TT as Preferred Source Taiwan’s population is projected to shrink by almost half over the next five decades, intensifying labor shortages and placing a growing drag on economic growth as the technology-intensive economy confronts a rapidly aging workforce.The population is expected to fall to 12.15 million by 2075, a 48 percent decline from this year, National Development Council projections released yesterday showed.The decline would fundamentally alter Taiwan’s workforce. From 2037, more than half of the working-age population is projected to be aged between 45 and 64, signaling the end of