What age means for the labour force

The older a workforce gets, the more likely economic slowdown becomes. But older workers can also boost productivity, explains ILO expert Ekkehard Ernst.

By 2019, more than 212 million people will be out of work, up from the current 201 million, according to the World Employment and Social Outlook – Trends 2015, a publication of the International Labour Organization. Part of what’s causing this is the slowdown in the supply of labour -- and that -- is partly affected by the world’s ageing population.

In general, older workers may be inclined to adopt new technologies given that technological progress often works in their favour, letting them replace physically demanding jobs with cognitive tasks, and they may be better suited to these than younger colleagues.

So how will countries offset their ageing supply of labour? Ekkehard says older workers should be enticed to stay in jobs. And another part of the solution lies in employing more women.

To read more, please click here.

Source & Copyright: ILO