China might encounter labor shortage by 2015

Chinanews, Beijing, July 10 – According to a prediction made by related departments, by 2013-2015, China's labor population will reach its best time for work. After that, the labor population will decline and China might start to encounter labor shortage problem, said an article recently published at the China Youth Daily.
The article was written by Cai Fang, director of the Population and Labor Economics Research Institute at the Chinese Academy of Social Sciences.
As social wealth increases and changes take place in social structure, traditional family mode is being challenged. According to a national population census, in 1982 every Chinese family had an average of 4.41 people, and in 2005, the number had dropped to 3.13, the economic scholar says in his article.
16% of the old people at the age of 65 or above live alone, and 42% of the old couples at the age of 65 or above live by themselves.
Meanwhile, the single child generation, being spoiled by their parents, tend to be self-centered. These children are usually unwilling to take care of their parents after they grow up.
These children change parents' expectation for them, as well. In a survey conducted by the Population and Labor Economics Research Institute at the Chinese Academy of Social Sciences, 70% of the old people give an affirmative answer when asked whether they expect their children to take care of them. However, among parents at the age of 35-45 (a generation that usually have only one child in their families), only 63% give an affirmative answer. The younger the parents are, the smaller the proportion giving an affirmative answer.
Today, as most people retire earlier than before, the social and family financial burden increases. According to a survey released in 2002, the retiring age for male workers in cities was 57, and that for female workers in cities was 50. Meanwhile, a separate survey showed that in 2002, the average life expectancy for males was 70, and that for females was 75, Cai says.
This means that most male workers can live for 13 years after retirement, while most female workers will live for 24 years after retirement. Judging from these statistics, it can be said that the financial burden resulting from caring for the aging population in society will become intolerably high.