Although the number of people of working age between 15 and 64 will fall by 230,000 in 2040, the number of people available for the labor market will increase by 150,000. What are the reasons for this apparent paradox?
There is great concern that we will soon run out of workers due to the retirement wave of the baby boom generation. The Chamber of Commerce warns of a gap of 363,000 jobs that cannot be filled in 2040 due to demographic developments. But now Wifo economist Helmut Mahringer is in charge: “There will be no decline in the number of people available for the labor market – not even in 2040!”
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
