Demographics: credit risks and opportunities
Demographic trends are impacting issuers across sectors globally, weighing on economic and fiscal growth. From ageing populations, to income inequality, to rising healthcare needs, this page explores the credit implications of changing demographics.

    03 Oct 2019|Moody's Investors Service
    Amid Brazil's ageing population, state pension costs are increasing, reflecting the structural imbalances caused by a low and declining ratio of active to inactive workers. Among rated Brazilian states, pension expenses rose to 18% of operating revenues in 2018, compared to 11% in 2011. In the absence of a structural pension plan reform, personnel expenses will continue to rise, weighing on the credit profiles of Brazilian states.

    08 Oct 2019|Moody's Investors Service
    UK and Canadian universities will face social risks from demographic trends and government policy, mitigated by more competitive student offerings and increased international enrolments.

    10 Sep 2019|Moody's Investors Service
    Higher female participation in the US labor force, coupled with increases in female employment and wages, enhances the growth potential of the US economy. But gender gaps in workforce participation and pay in the US remain wider than in other advanced economies.

    30 Jul 2019|Moody's Investors Service
    The European Commission’s (EC) latest Ageing report is forecasting a marginal slowdown in the EU's potential economic growth rate from an already low level in the next decade. While declining labour input will start to weigh on potential growth in the EU from 2020, the EC’s Ageing report expects productivity and investment gains will largely offset this decline.

    26 Jul 2019|Moody's Investors Service
    In this podcast, we discuss how digital technologies could dramatically alter industry dynamics for many companies, as well as create challenges for governments in managing labor transitions, potential income inequality effects, regulatory regimes and cyber risk​.  Read the related report.
    25 Jul 2019|Moody's Investors Service
    Digitization is aimed at enhancing information processing and the quality of decision making while further automating routine tasks. Credit impact will depend on institutional effectiveness in promoting human capital development, fostering entrepreneurship and removing regulatory impediments to business formation.