Demographics, characterized by population aging, have substantially reduced the availability of
people fit to work. If we consider a working-age population composed only of individuals between
14 and 64 years old, we observe that the annual growth rate of labor supply has fallen from 1.5
million people at the beginning of the previous decade to around 350 thousand in recent years.
This scenario is positive for individuals but challenging for companies and for the monetary
authority.
Given the preval
