India Seen Topping Global Labor Force In Next Decade, Data Show
- China seen slipping to second; U.S. holds onto third spot
- Millennials are ‘key demographic segment’ for Indian economy
Employees work at an office in Mumbai.
Photographer: Dhiraj Singh/BloombergThis article is for subscribers only.
India’s millennial generation is bigger than China’s or the U.S., which will boost the nation’s labor force to the world’s largest by 2027, according to a Bloomberg News analysis of United Nations population-projection data.
India’s working-age population is expected to expand to 18.6 percent of the global labor force by 2027, up from 18 percent this year, while China’s is forecast to fall to 18.3 percent from 20.5 percent, the data show. The number of people in China aged 15 to 64 will drop by 21 million to 989.4 million. In India, this number is expected to exceed 1 billion.