Monday, November 07, 2011

Australia: Clarius Group Reports Increase in Labor Participation by Older Workers

In its quarterly skills survey for the September 2011 quarter, the Clarius Group, while noting that the overall index fell in the quarter, also noted the aging demographic of the Australian workforce--the percentage of the labor force aged between 55-56 had increased to 13.8%, compared with 8.3% in 1998.

According to the report, "[b]alancing this exodus of older workers is the fact that an increasing number are staying because of higher life expectancy, improved health, and hopefully, because they enjoy working life." Furthermore, while many businesses are already targeting keeping the older workers, more initiatives are needed to sustain this development. The report also finds that "the older staff members want very much the same working structure as the youngest—-flexibility and challenges."

Clarius Group identifies three skills areas as being among the key skills the labor market will lose when this group of workers exit the labor force between 2017 and 2026: health, education, and engineering.

Source: Clarius Group Media Release (November 7, 2011)

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