The Aged Care Puzzle

THE AGED D CARE PUZZLE DEMAND VS SUPPLY GROWING POPULATION AUSTRALIAN I 65+ POPULATION DECLINING WORKFORCE RATIO RATIO OF WORKERS : RETIRED COUPLE 1970 PER 1984 TODAY 15.6m | 1.58m 23.6m | 3.45m 2010 PER 2050 PER 2024 2044 28.3m | 4.76m 38.7m | 7.75m AGEING WORKERS MEDIAN AGE IN WORKFORCE SECTORS AGEING SOCIETY MEDIAN AGE Health C- ABC Education Construction CX Community Aged Care 38.0 40.0 Finance $ 37.3 30.5 Residential Retail 1984 TODAY 2024 2044 Aged Care INCREASED LONGEVITY LIFE EXPECTANCY AT BIRTH 33.4 37.3 38.5 41.1 42.1 48.0 50.0 AGE 1984 75.8 TODAY 82.1 MASS RETIREMENT 2024 84.9 RETIRING AGED CARE WORKFORCE 2044 90.4 240,445 HALFTHE WORKFORCE WILL BE WORKERS IN THE AGED CARE SECTOR POPULATION PYRAMIDS AGE VS. POPULATION (THOUSANDS) OF RETIREMENT AGE IN... 1984 2014 2044 15 yrs 90 - 90 - 90 - 80 - 80 - 80 - 70 - 70 - 70 - 60 - 60 - 60 - 50 - 50 - 50 - 40 - 40 - 40 - 30 - 30 - THIS EQUATES TO... 20 - 20 20 - 10 - 10 - 10 - 8,015 RETIREES PER YEAR 200 150 100 50 50 100 150 200 200 150 100 50 50 100 150 200 200 150 100 50 50 100 150 200 FAREWELL! 85+ POPULATION FAREWELL LUNCHES/MTH. 668 FORTHE NEXT 15 YRS 1984 TODAY 2024 601,815 5x as many 120,862 455,390 4x as many MASS RECRUITMENT L TO KEEP THE CURRENT RATIO OF AGED CARE WORKERS TO PEOPLE AGED 85+ 2044 WE NEER 77976 WORKERS IN THE 1,655,997 14x as many TO ADD NEXT 10 YEARS THIS EQUATES TO... A RECRUITMENT 650/MONTH GOAL OF LETTERS FROM THE QUEEN No. OF AUSTRALIANS TURNING 100 (CALENDAR YR) REPLACING THE T RETIRING STAFF 1952* 40 100 TODAY 2643 GROWING NEED 2024 4885 IN THE NEXT 30 YEARS AUSTRALIA WILL HAVE +1,200,000A MORE PEOPLE 2044 18567 AGED 85+ *The year Queen Elizabeth II became sovereign THE AVERAGE OLDER AUSTRALIAN WILL LIVE LONGER 5 YRSTHAN TODAY SPONSORED BY INFOGRAPHIC BY POWERED BY THIS EQUATES TO... mccrindle RESEARCH VISUALISATION 6,000,0008F CARE YEARS FORECASTS - STRATEGY RESEARCH EXTRA Community Services & Health Industry Skills Council mccrindle.com.au researchvisualisation.com © McCrindle, Community Services & Health Industry Skills Council Source: ABS, McCrindle cshisc.com.au GROWING DEMAND DECLINING SUPPLY 1 44