Lanka facing looming crisis due to shrinking workforce

Sri Lanka is facing a looming crisis as its labour force shows signs of a rapid decline, according to Professor Wasantha Athukorala of the Department of Economics and Statistics at the University of Peradeniya.

- BY SUJEEWA THATHSARA

Citing recent data from the 2024 Population and Housing Census, Professor Athukorala warns that the shrinking workforce poses a serious threat to the country's economic stability and future development.

The country's total population currently stands at 21.76 million. However, despite a modest increase of 1.4 million people since the last census in 2012, the population growth rate has slowed to just 0.5%-a noticeable drop from 0.7% recorded a decade ago.

This downward trend signals an overall decline in population growth, which could have far-reaching effects.