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What drives employment trends among older workers?

Author

Listed:
  • Furbach, Nina
  • Moura, Afonso S.

Abstract

This box shows that older workers have contributed significantly to euro area employment growth in recent years, largely because they are retiring later. The share of retired individuals in the total population shows little sensitivity to the economic cycle, but has decreased steadily over the past two decades, with this decline having shifted more towards older age groups. The share of retirees is still falling among individuals in their early to mid-60s and appears likely to also do so among older age groups. At the same time, statutory retirement ages do not seem to have been the main contributing factor to the observed increases in average retirement ages. Looking ahead, the evidence suggests that overall retirement ages will continue to increase, in line with the projections presented in the European Commission’s 2024 Ageing Report. JEL Classification: E24, J11, J21, J26

Suggested Citation

  • Furbach, Nina & Moura, Afonso S., 2026. "What drives employment trends among older workers?," Economic Bulletin Boxes, European Central Bank, vol. 3.
    • Handle: RePEc:ecb:ecbbox:2026:0003:5
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    Keywords

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    JEL classification:

    • E24 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity
    • J11 - Labor and Demographic Economics - - Demographic Economics - - - Demographic Trends, Macroeconomic Effects, and Forecasts
    • J21 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Labor Force and Employment, Size, and Structure
    • J26 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Retirement; Retirement Policies

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