Recently released ABS Data shows that in the 12 months to 30 June 2008, the Australian population increased by 359,000 people, reaching 21,374,000. The annual growth rate for the year ended 30 June 2008 (1.7%) was higher than that recorded for the year ended 30 June 2007 (1.5%).

Australia’s population, like that of most developed countries, is ageing as a result of sustained low fertility and increasing life expectancy. This is resulting in proportionally fewer children (under 15 years of age) in the population. The median age (the age at which half the population is older and half is younger) of the Australian population has increased by 5.3 years over the last two decades, from 31.6 years at 30 June 1988 to 36.9 years at 30 June 2008. Between 30 June 2007 and 2008 the median age increased by 0.1 years. Over the next several decades, population ageing is expected to have significant implications for Australia including health, labour force participation, housing and demand for skilled labour.

 

At 30 June 2008, Tasmania had the oldest population of all the states and territories with a median age of 39.4 years. The second oldest was South Australia with a median age of 39.0 years, followed by New South Wales (37.1 years), Victoria (37.0 years), Western Australia (36.4 years), Queensland (36.3 years), the Australian Capital Territory (34.7 years) and the Northern Territory (31.1 years).

Tasmania experienced the largest increase in median age over the last 20 years, increasing by 8.0 years from 31.4 years in 1988 to 39.4 years in 2008. The emigration of younger adults from Tasmania to the Australian mainland has contributed to this accelerated ageing.

 

The number of people aged 15-64 years (working age population) increased by 1.8% (or 249,100 persons) in the year ended 30 June 2008. Western Australia (2.7%), the Northen Territory (2.5%), Queensland (2.4%) and Victoria (1.8%) each recorded growth rates for 15-64 year olds higher than or equal to the national figure. New South Wales (1.3%), the Australian Capital Territory (1.1%), South Australia (1.1%), and Tasmania (0.8%) each recorded growth rates for 15-64 year olds lower than the national figure.

 

In the year ended 30 June 2008, there were 287,300 young people aged fifteen who entered the working age population while 178,800 people turned 65 years and left the working age population. However, this excess of 15 year olds over 65 year olds is projected to decline over the next decade. The major causes for this decline are because the first cohort of the baby boomers (those born in 1946) will reach the age of 65 years in 2011 leaving the working age population, while the number of 15 year olds entering the working age population will decline due to the fall in fertility and the number of births recorded through the 1990s.

 

In the 12 months to 30 June 2008, the number of people aged 65 years and over in Australia increased by 67,600 people representing a 2.4% increase. The proportion of the population aged 65 years and over increased from 10.8% to 13.3% between 30 June 1988 and 30 June 2008.

All states and territories experienced growth in their populations aged 65 years and over in the year ended 30 June 2008. The Northern Territory (6.6%), the Australian Capital Territory (3.7%), Western Australia (3.2%) and Queensland (3.0%) experienced the greatest increase in the numbers of persons aged 65 years and over.

Sourced from National Retail Association (www.nra.net.au), 5 January 2009.