Editing Millennials (section)

===Oceania===
{{See also|Aging of Australia}}
Australia's total fertility rate has fallen from above three in the post-war era, to about replacement level (2.1) in the 1970s to below that in the late 2010s. However, immigration has been offsetting the effects of a declining birthrate. In the 2010s, among the residents of Australia, 5% were born in the United Kingdom, 3% from China, 2% from India, and 1% from the Philippines. 84% of new arrivals in the fiscal year of 2016 were below 40 years of age, compared to 54% of those already in the country. Like other immigrant-friendly countries, such as Canada, the United Kingdom, and the United States, Australia's working-age population is expected to grow till about 2025. However, the ratio of people of working age to retirees (the [[dependency ratio]]) has gone from eight in the 1970s to about four in the 2010s. It could drop to two by the 2060s, depending on immigration levels.<ref name="Fensom-2019">{{Cite news|url=https://news.yahoo.com/australia-demographic-time-bomb-arrived-193400024.html|title=Australia's Demographic "Time Bomb" Has Arrived|last=Fensom|first=Anthony|date=1 December 2019|work=The National Interest|access-date=24 December 2019|publisher=Yahoo! News}}</ref> "The older the population is, the more people are on welfare benefits, we need more health care, and there's a smaller base to pay the taxes," Ian Harper of the Melbourne Business School told ABC News (Australia).<ref name="Kohler-2019">{{Cite news|url=https://www.abc.net.au/news/2019-11-20/economy-demographics-baby-boomers-retiring-immigration/11700508|title=So many baby boomers are retiring this doctor quit his job to go build them luxury homes|last1=Kohler|first1=Alan|work=ABC News (Australia)|access-date=24 December 2019|last2=Hobday|first2=Liz|department=7.30}}</ref> While the government has scaled back plans to increase the retirement age, to cut pensions, and to raise taxes due to public opposition, demographic pressures continue to mount as the buffering effects of immigration are fading away.<ref name="Fensom-2019" />