Monday, January 16, 2006

United Kingdom: New Projections of Over-65 Workforce to 2020

The United Kingdom labor force is projected to continue growing and reach 32.1 million people in 2020, on the basis of current trends, according to an article in the January issue of Labour Market Trends. This is a 6.7% increase on the 2005 figure of 30.1 million. It is expected that the number of people remaining economically active above pension age will increase; specifically, the number of over-65s still economically active will increase from 582,000 in 2005 to 775,000 in 2020. Overall, the economic activity rate for working-age people is projected to increase from 78.5% in 2005 to 79.8% in 2020.

The most significant demographic trend affecting the labor force over the next 15 years is expected to be a 23.5% increase in the number of people aged 50 and over. This is a combined effect of the overall trend towards higher life expectancy as well as the transition of the baby boom generation to the 50 and over age group.

Source: News Release National Statistics (January 12, 2006)

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