Job Market Monitor
Older Wokers
Workforce Ageing in Australia – Mature aged people account for one in six workers
Mature aged people account for one in six workers in the Australian workforce, a share that has steadily increased over the past decade. Australia’s population is ageing as a result of historically low fertility rates (which have recently recovered to an approximately 30 year high) and increasing life expectancy. As this trend continues, the share … Continue reading
Older Workers Participation in US – Recent cohorts of women have been participating at higher rates than their predecessors early in life but lower rates in middle age but man …
Labor force participation is rising for older workers in the U.S.; therefore, while it is tempting to focus on prime-age workers to gauge the economy’s health to avoid demographic effects, doing so misses important shifts amongst those over 54 years old. Figures 1a and 1b (below) show labor force participation rates by gender, birth cohort, and age in five–year intervals. These figures describe both trends in labor force … Continue reading
Getting Older – How young people see seniors
WE ASKED: WHAT AGE IS ‘OLD’? Answer : 59 Female respondents chose 61 as ‘old,’ whereas those identified as male went with 56. PERCEPTIONS OF AGING #1 “People’s driving skills decline as they age.” #2“ As people age, they become lonelier.” #3“ People like their bodies less when they get old.” #4“ As people get … Continue reading
Older Workers in US – Some 10 million live at or below the poverty level of $11,800
Some 10 million people over 50 in the U.S. live at or below the annual federal poverty level of $11,800, with another 37 million at risk. No dreams of a beach retirement here. Even among the employed, more than 13.2 million low-income older adults don’t make enough money to meet their expenses despite working steadily. … Continue reading
Labour Force Participation Of Older Workers In Sweden – The recent rise
Between 1963 and 2000 the labor force participation rate among males in the age group 60–64 in Sweden fell from around 85 to 55 percentage points. However, since then, the labor force participation has started to rise again and is now above 75 percent in the age group. Although the long term development for female … 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
Older Workers and Taxes in Canada – Changes in individuals’ tax rates associated with changes in the employment decisions of spouses
Amid an aging society and rising labour market participation rates among older Canadians, it is important to understand the factors affecting the employment decisions of older workers. Although there is a large research literature estimating the effects of income taxes on the labour supply decisions of young and middle-aged workers, the ways in which older … Continue reading
Older Workers in EU – Integration strategy with job search training, hiring subsidies and health promotion are the most effective
Although the labour market situation of older workers has significantly improved over time, opportunities to work at older age still vary considerably across EU countries. To trace diverging developments and to assess what works best in retaining employment and bringing older unemployed back to work developments in five countries are analysed: Germany, France, the Netherlands, … Continue reading
Older Workers in UK – Workplace innovation practices
The increasing age of the working population is creating unprecedented challenges for organizations and governments. Coupled with economic and demographic changes, these challenges call for effective and efficient ways to manage an increasingly older workforce. So far, policy on developing sustainable work and retaining an increasingly ageing workforce has focused on raising the retirement age … Continue reading
Job Report 2016 in Canada – People 55 and older had the fastest annual rate of employment growth (+146,000 or +4.1%)
People 55 and older had the fastest annual rate of employment growth in 2016 (+146,000 or +4.1%).This reflects population shifts related to the baby-boomer cohort, which began transitioning into the 55 and over age group around the turn of the 21st century. Both the population and employment growth rates for people 55 and older have … Continue reading
Older Workers – How do employers adapt ?
Aging men and women are increasingly remaining in the labor force. Most often the reason for this is that they need to work additional years in order to be able to support an increasing number of years in retirement. This leaves employers scrambling for ways to adapt to a growing number of retirement-aged workers. Clark … Continue reading
Certified Age Friendly Employer (CAFE) Program – RetirementJobs.com
RetirementJobs.com’s Certified Age Friendly Employer (CAFE) program is an initiative to identify those organizations that are committed to being the best places to work for employees at or above age 50. Certified employers are those that value employees based solely on their proficiency, qualifications and contribution and also maintain policies, practices and programs supporting people … Continue reading
UK – Nearly two-thirds of employees say they expect to retire in their 60s, and 17 per cent in their 70s
The British Social Attitudes Survey (BSAS) is an annual face to face survey of approximately 4,300 people in private households, aged 18 and over. They are selected at random to provide a representative picture of attitudes of the population. This report outlines headline findings from the subset of questions included in the 2015 BSAS questionnaire … Continue reading
UK – Almost 1 million people aged 50-64 have been made ‘involuntarily jobless’
Age-old assumptions about when working life should end are rapidly changing. Increasing numbers are choosing to work beyond State Pension Age (SPA) and many are having to work longer than planned to assure their income in retirement, particularly in light of recent changes to SPA. As a society we have failed to grasp and respond, … Continue reading
Older Workers in EU – Employment growth has far outpaced US
The European Union (EU) has experienced significant growth in the employment of workers ages 55 to 64, which has far outpaced the growth of older-worker employment in the United States. An initial look might lead to the conclusion that the EU is ahead of the United States in employing older workers. However, the historical performance … Continue reading
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