https://www.rba.gov.au/speeches/2018/sp-gov-2018-08-08.html  14/18  8/8/2018  Demographic Change and Recent Monetary Policy | Speeches | RBA  Graph 14  So, together, better health outcomes, changes in the nature of work and retirement income policies, financial incentives and the general trend towards greater female participation in the labour force are all boosting the participation rate for older Australians.
The overall picture is one of constructive adjustment to our changing demographics. This is another illustration of the flexibility of the Australian economy. As our population continues to age, further adjustment is likely to be needed. But as I spoke about earlier, Australia is better placed to deal with population ageing than most other advanced economies.