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would continue indefinitely, while the second is that birth rates would decline until 1980 and then remain steady until 2000. On the labor force, Dr. Serow says “the larger share of the population which is in the labor force, the better off society will be, since there will be relatively fewer non-workers who will have to be supported by the economically active population.”
According to the first assumption, 46.0 per cent of a projected population of 6.9 million state residents will be in the labor force by 2000. But 50.7 per cent of a population of 5.8 million will be in the labor force if the second assumption is used. In 1970, 42.1 per cent of the population of 4.6 million was in the labor force.
“This will have the effect of making the level of spending per person more than double,” Dr. Serow says. State residents who had average individual incomes of $3,013 in 1970 will have some $6,680 to $7,240 to spend by the year 2000. The figures use a 1969 value of currency.
WITH a higher level of real income comes a higher level of spending. Consumers will demand different products and services, Dr. Serow says. For example, luxury goods will be sought more than basic essentials. In housing, Dr. Serow says the greatest increase in demand would appear to be for small, well-built and wellappointed units, such as condominiums, rather than large, single family residences.
93.1%