Job Market Monitor
Aging Workforce
Aging Workforce – Participation of older workers would have to rise significantly to stem the decline in aggregate participation IMF says
Population growth in advanced economies is slowing, life expectancy is rising, and the number of elderly people is soaring. Because older workers participate less in the labor market, the aging of the population could slow growth and, in many cases, threaten the sustainability of social security systems. But, as our research in Chapter 2 of … Continue reading
Older Workers in US – Employment comparatively high at 62% among 55-64 year-olds against 59% on average in OECD (2016)
In the United States, employment rates at older ages are comparatively high at 62% among 55-64 year-olds against 59% on average in OECD countries in 2016. However, there are large disparities across population groups. Early retirement remains a widespread phenomenon, especially among workers from vulnerable socio-economic backgrounds. Preventing old-age disparities in terms of employment outcomes … Continue reading
Global Aging Workforce – It will add further pressure to future labour market challenges
As a result of rising life expectancy and declining birth rates, global population growth has considerably decelerated and this trajectory is expected to continue over the next few decades. One immediate implication of this slowdown is that growth of the global labour force will not be suf cient to compen- sate for the rapidly expanding … Continue reading
Canada – An impending workforce gap
Canada has an impending workforce gap that will be hard to bridge using traditional measures. Workforce expansion has been an especially strong driver of growth in Canada. But with twice as many employees aged 55+ today as in 1997, this will change in coming decades. To grow our workforce at the same rate moving forward, … Continue reading
Aging – Japan’s recent experiences
As the third largest economy in the world and a precursor of global trends in population aging, Japan’s recent experiences provide important lessons regarding how demographic shifts affect the labor market and individuals’ economic well-being. On the whole, the labor market has shown a remarkable stability during the recent financial crisis, despite decades of economic … Continue reading
Aging Workforce in US – A 10% increase in the fraction of the population ages 60+ decreases the growth rate of GDP per capita by 5.5% research finds
Population aging is widely assumed to have detrimental effects on economic growth yet there is little empirical evidence about the magnitude of its effects. This paper starts from the observation that many U.S. states have already experienced substantial growth in the size of their older population and much of this growth was predetermined by historical … Continue reading
Aging Workforce – What can employers do to mitigate the risks ?
Demographic change will have a profound effect on the UK labour market over the next two decades and beyond. Over 30% of people in employment in the UK are over the age of 50, and there are unlikely to be enough younger people entering the labour market to replace this group when they leave the … Continue reading
Canada – No evidence of a national labour shortage at present or into the foreseeable future research finds
This report outlines the findings of a knowledge synthesis project which was established to gather and learn more about what the best existing peer-reviewed research reveals about labour and skills supplies in Canada now and in the near future. This study identifies not only what is known but also the gaps in research relating to … Continue reading
Aging Workforce – How prepared is the US
Gillian B. White: You spent a lot of time researching the labor force and changing demographics around the world, in your opinion how prepared is the U.S. for the shift to an older population? Joseph M. Coleman: There are good things and bad things. We have a very dynamic economy, we’re able to react to … Continue reading
Aging Workforce Germany – 500K immigrants are needed each year study finds
The euro zone’s number one economy will need an army of immigrants to keep its economy going, a Bertelsmann study showed on Friday. Europe’s powerhouse needs some 500,000 immigrants each year in order to stabilize its labor force and social welfare system until 2050, the newest study from think-tank Bertelsmann showed on Friday. The study … Continue reading
The Aging Global Workforce – The productivity challenge could be do-able McKinsey finds
The world is aging, and that matters for growth. In the past, an abundant and growing labor pool was a powerful engine of the world economy; today, the number of workers is starting to decline in many countries. This leaves no alternative but for companies, individuals, and governments to work in smarter ways. In an … Continue reading
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