Short tutorial that explains you on how to calculate total dependency ratio for the measurement of number of dependents per population.
What is Dependency Ratio?
Dependency ratio is the measure of number of dependents to the total population count. Number of dependents are measured between the age group of 0 to 14 and above 65. Total population is measured between the age group of 15 to 64. The ratio is also sometimes referred to as Total Dependency Ratio. It is also used for the analysis of number of nonworking age of people and working age of people. Higher the ratio indicates, the working age people, face a greater burden in supporting the elder population.
In this short tutorial, let us discuss on how to calculate the total dependency ratio to the total population inorder to asses number of dependents.
Formula Used:
Total Dependency Ratio = [Number of Dependents (Aged 0 to 14 and Above 65) / Total Population (Aged 15 - 64)] x 100%
Consider an example, if in a population of 2000, there are 800 people under the age of 15 and above 65
and 1200 people between the ages of 15 and 64. What will be the total dependency ratio?
Step 1: Given,
Number of Dependents (Aged 0 to 14 and Above 65) = 800
Total Population (Aged 15 - 64) = 1200
Step 2: Applying values in the formula,
Total Dependency Ratio = [Number of Dependents (Aged 0 to 14 and Above 65) / Total Population (Aged 15 - 64)] x 100%
Total Dependency Ratio = [800 / 1200] x 100%
Total Dependency Ratio = 66.66%