Episode Details

In March 2020, we all wondered how COVID would change us. Would it be just a temporary shock, or would it reshape society forever?

Well, six years on, the data is in – and it turns out the pandemic didn't rewrite Australia's destiny, but it did press fast-forward on changes that were already underway.

In this episode of Demographics Decoded, I explore with Simon Kuestenmacher the lasting impacts of COVID-19 on Australia's demographics.

We unpack how Covid accelerated demographic shifts, from fewer babies and more deaths, to the rise of the millennials and the gradual handover of economic power from boomers.

We also look at what all this means for skills shortages, inflation, interest rates, and Australia's future prosperity.

Takeaways

· The pandemic accelerated existing demographic trends rather than creating new ones.

· Young people in their formative years were significantly impacted by COVID.

· Australia's population grew by nearly a million people since 2020.

· Migration rates dipped to record lows during the pandemic.

· There was no significant increase in birth rates during COVID.

· The aging population will lead to more deaths in the coming years.

· Millennials are now entering their family formation age, likely increasing birth rates.

· The demand for childcare has risen despite a decrease in the number of children.

· Inflationary pressures are linked to the spending habits of millennials and baby boomers.

· Skills shortages are expected to persist as the workforce ages.

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