Demographics are the quantifiable figures of a given population. Demographics are also used to recognize the study of quantifiable subsets contained by a specified population which illustrate that population at a particular point in time. Australia’s estimated population in year 2013 is projected to be 22,917,910. In June 2012, the estimated resident population of Australia was 22, 683,600 people. This reflects an increase of 359,600 people since June 2011 and 87,100 people since March 2012. (Aus, 2013) Population Growth Rates of Australia grew by 1.6 percent during the year ended June 30th 2012. The growth of Australia’s population has two components which include the natural increases and the net overseas migration. Natural increase and net overseas migration contributed 42% and 58% to total population growth for the year ended 30th June 2012. All of the stats and territories recorded a positive growth in the year 2012. Western Australia recorded the fastest growth rate of all states and territories at 3.3% whereas Tasmania recorded the slowest growth rate at 0.2%. The estimated population for each of the states and territories in year 2011 are as follows: (Beta, 2013) New South Wales 7,287,600
South Australia 1,654,200
Western Australia 2,331,500
Northern Territory 229,200
Australian Capital Territory 363,800
Australia’s aging population
Similar to the majority urbanized countries, Australia’s population is aging as a result of constant low fertility and rising life expectancy. As a result, there is fewer children in population under the age of 15 years, the median age has increased by 4.8 years over the last two decades from 32.1 years to 36.8 years in 2010. Later on, residents’ aging is anticipated to have considerable allegations for Australia which includes health, labour force, housing and demand for skilled labour. Tasmania, in June 2010, had the oldest...