California is experiencing a demographic shift, with the population aged 65+ projected to rise from 14% in 2020 to 22% by 2040, an increase of 59%. The working-age population (20-64 years old) will remain stable, while the youth population (0-17 years old) is expected to decline by 24%. The old-age dependency ratio is anticipated to grow from 24 to 38 older adults per 100 working-age adults. This shift will have extensive economic implications, as workforce participation among older adults, particularly low-income and less-educated, is also projected to increase due to financial necessity.
"California's population aged 65 and older is set to rise significantly, from 14% in 2020 to 22% by 2040, representing a projected 59% increase."
"The old-age dependency ratio will increase to 38 older adults per 100 working-age adults, highlighting the economic implications of an aging population."
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