Absent a significant increase in the rate of labour force participation, including by older workers, this implies less growth in the overall labour force (and eventually some decline). However, perhaps the more important question is what will happen to the growth of the urban workforce.
This is critical because urbanisation is the means by which relatively unproductive labour in the rural sector finds its way to more productive activities in urban centres where much of the capital resides. It seems that urbanisation still has a way to go – particularly in the central and western regions of the country (Berkelmans and Wang 2012) (Graph 3).