Every year the Demographics Research Group is asked to give presentations on Virginia’s demographic trends, and this year, as is true every year, the demographic trends we explored depended on our audience’s area of interest —school enrollment change for the Board of Education, population growth trends for the House Appropriations Committee, or population projections for the Virginia Planning Association. However, behind all of these trends, there was one significant driving factor: aging. The aging of Baby Boomers is not only swelling the 65+ population, but is also having a ripple effect across all age groups, slowing growth in the working-age population and often causing decline in the school-age population.The growth in Virginia’s population over age 65 is a widely known trend and is commonly recognized as the most significant demographic change currently taking place across the U.S. But the expected rate of growth in the 65+ population is still stunning. In just 20 years (between 2010 and 2030), Virginia’s population age 65 and older is expected to jump from 976,937 to 1,803,404, contributing to the majority of Virginia’s population growth during the period. Outside of Northern Virginia, 85 percent of the projected population growth is predicted to come from those 65 and older. Benjamin Franklin famously said “in this world nothing can be said to be certain, except death and taxes.” Barring a catastrophic spike in deaths, the aging of Virginia’s population is also a certainty.
Source: 2010 Decennial Census and UVA Weldon Cooper Center Age Projections Read Full Article →