People are working longer for reasons of choice and necessity

ACROSS THE developed world, the workforce now comes in 50 shades of grey. Since 2008 the average labour-force participation rate of 55- to 64-year-olds in OECD countries has risen by eight percentage points. Depending on your point of view, that trend can be spun as ruthless capitalism requiring workers to spend more years down the salt mines or as a sign that society that is finally recognising the value of its older employees.

A new OECD report, “Working Better with Age”, points out that the employment of older workers is vital, if prosperity is to be maintained. The median age of citizens in the OECD is set to rise from 40 now to 45 in the mid-2050s; on current trends, by 2050 there will be 58 retired people for every 100 workers, up from 41 today.

Many people will be more than happy to work longer. A recent survey of 1,000 British retired people found that a quarter thought they had stopped too early (on average they had quit at 62). A third said that they had lost their purpose in life after they retired.

Bartleby has reached an age at which many of his contemporaries have stopped working. The appeal is understandable. Retirement gives you the chance...



via Business Feeds

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