In this episode of Trading Up Unpacked, hosts Jim Fitzpatrick and Richard Ramsey explore the startling new projections for Northern Ireland's demographics. After decades of continuous growth, the population is set to peak in 2031 before entering a steady decline, meaning the two million mark may never be reached.
We unpack the severe economic implications of this unprecedented shift, from a shrinking working-age population and tightening labor supply to mounting pressures on public services, particularly a looming tsunami of spending required for healthcare. With Northern Ireland facing the UK's sharpest decrease in children and largest surge in pensioners, what does this mean for businesses, taxation, and the future workforce?
We also discuss surprising factors driving global birth rate declines, including the rise of smartphones. Tune in to understand how these long-term demographic trends will fundamentally reshape the Northern Irish economy.
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