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This publication gathers the papers presented at the “OECD-EU dialogue on mobility and international migration: matching economic migration with labour market needs” (Brussels, 24-25 February 2014), a conference jointly organised by the European Commission and the OECD.
The age-distribution of Europe’s workforce has shifted towards older workers over the past few decades, a process expected to accelerate in the years ahead.. This paper studies the effect of the aging of the workforce on labor productivity, identifies the main transmission channels, and examines what policies might mitigate the effects of aging. We find that workforce aging reduces growth in labor productivity, mainly through its negative effect on TFP growth. Projected workforce aging could reduce TFP growth by an average of 0.2 percentage points every year over the next two decades. A variety of policies could ameliorate this effect.
The United States is in the midst of a major demographic shift. In the coming decades, people aged 65 and over will make up an increasingly large percentage of the population: The ratio of people aged 65+ to people aged 20-64 will rise by 80%. This shift is happening for two reasons: people are living longer, and many couples are choosing to have fewer children and to have those children somewhat later in life. The resulting demographic shift will present the nation with economic challenges, both to absorb the costs and to leverage the benefits of an aging population. Aging and the Macroeconomy: Long-Term Implications of an Older Population presents the fundamental factors driving the aging of the U.S. population, as well as its societal implications and likely long-term macroeconomic effects in a global context. The report finds that, while population aging does not pose an insurmountable challenge to the nation, it is imperative that sensible policies are implemented soon to allow companies and households to respond. It offers four practical approaches for preparing resources to support the future consumption of households and for adapting to the new economic landscape.
Recoge: 1. Introduction. - 2. Stylised facts about labour productivity growth and its driving forces. - 3. Evaluation of the different approaches for making long-run productivity projections. - 4. Overview of the methodology adopted for the present projections. - 5. Main results of baseline projections. - 6. Sensitive tests on productivity and GDP per capita. - 7. Concluding remarks. - 8. Annexes.
Labour, the most widely used and valued input in Canadian production, is exchanged in a market best described as being in a constant state of flux. Recent estimates suggest that approximately 2.5 million workers secure employment each year while a somewhat larger number become unemployed or leave the labour market. This document looks at labour market developments and examines the following points: labour supply growth and composition; labour demand; unemployment; quarterly review; and parliamentary action.
The Madrid International Plan of Action on Ageing (MIPAA), adopted at the Second World Assembly on Ageing, is the first international agreement that specifically recognises the potential of older people to contribute to the development of their societies. In monitoring its implementation two key approaches are evident: a qualitative bottom-up participatory approach and an approach that uses quantitative indicators to monitor sustainable progress and policies. With the European Centre for Social Welfare Policy and Research, playing a pivotal role in the monitoring of the implementation process, one of its key tasks has been to develop a list of 'indicators of achievement'. This book contains extended and revised versions of policy briefs and background papers that support the implementation monitoring process. The analyses included in these chapters make concrete suggestions towards quantitative indicators, with the aim of assisting national governments in mainstreaming ageing in their policies. The contributors provide an overview of the current situation with respect to population ageing and its consequences and also provide projections for the future. The book also includes the final list of quantitative indicators that arose out of consultations with international experts, related to the four main topics addressed: demography, income and wealth, labour market participation, and social protection and financial sustainability.
This report provides an overview of global and regional trends in employment, unemployment, labour force participation and productivity, as well as dimensions of job quality such as employment status, informal employment and working poverty. It also examines income and social developments, and provides an indicator of social unrest. Key findings are that are unemployment is projected to rise after a long period of stability, and that many people are working fewer paid hours than they would like or lack adequate access to paid work. The report also takes a close look at decent work deficits and persistent labour market inequalities, noting that income inequality is higher than previously thought.
This paper analyses the impact of large and persistent emigration from Eastern European countries over the past 25 years on these countries’ growth and income convergence to advanced Europe. While emigration has likely benefited migrants themselves, the receiving countries and the EU as a whole, its impact on sending countries’ economies has been largely negative. The analysis suggests that labor outflows, particularly of skilled workers, lowered productivity growth, pushed up wages, and slowed growth and income convergence. At the same time, while remittance inflows supported financial deepening, consumption and investment in some countries, they also reduced incentives to work and led to exchange rate appreciations, eroding competiveness. The departure of the young also added to the fiscal pressures of already aging populations in Eastern Europe. The paper concludes with policy recommendations for sending countries to mitigate the negative impact of emigration on their economies, and the EU-wide initiatives that could support these efforts.