This article explores how governments, particularly in developed countries, can tackle the issue of finding meaningful employment for both older and younger workers.
The demographic makeup of the world is changing, and the composition of the global workforce is changing with it. Longer life expectancy and falling birth rates are increasing the proportion of older people in many countries. Particularly in more developed economies, many workers who once might have retired at age 65 or earlier, leaving a skills gap for future generations to fill, are less likely to do so today. Instead, older workers are staying in the workforce longer, for reasons of improved health, personal desire or economic necessity. At the same time, younger individuals are struggling to obtain a foothold in an increasingly competitive employment environment, creating pressure on the labor force from both ends.