Implications of higher retirement age for the labor market

2017 ◽  
pp. 22-39 ◽  
Author(s):  
M. Ivanova ◽  
A. Balaev ◽  
E. Gurvich
Keyword(s):  
Economic Growth ◽  
Labor Market ◽  
Labor Supply ◽  
Labor Force ◽  
Labor Demand ◽  
Retirement Age ◽  
Demographic Trends ◽  
Men And Women ◽  
Demographic Projections ◽  
The Impact

The paper considers the impact of the increase in retirement age on labor supply and economic growth. Combining own estimates of labor participation and demographic projections by the Rosstat, the authors predict marked fall in the labor force (by 5.6 million persons over 2016-2030). Labor demand is also going down but to a lesser degree. If vigorous measures are not implemented, the labor force shortage will reach 6% of the labor force by the period end, thus restraining economic growth. Even rapid and ambitious increase in the retirement age (by 1 year each year to 65 years for both men and women) can only partially mitigate the adverse consequences of demographic trends.

scholarly journals The impact of the working longevity of the “silver generation” on the Kazakhstani labor market

2021 ◽  
Vol 101 (1) ◽  
pp. 48-56
Author(s):  
M.R. Gazizova ◽  
Keyword(s):  
Labor Market ◽  
Older People ◽  
Working Conditions ◽  
Aging Process ◽  
Retirement Age ◽  
Working Capacity ◽  
Demographic Trends ◽  
The Impact

Object: To study the impact of demographic trends on the labor market in the context of the labor activity of the older generation in Kazakhstan and to conduct a comparative analysis of the employment indicators of older people. Methods: methods of system, dynamic and structural analysis, and correlation analysis. Findings: The results of the analysis allow us to conclude that the aging process of the population actualizes the labor activity of the older population, and determines the formation of support for stimulating the employment of older people. Conclusions: Thus, the role of the older generation in the labor market is being scaled, and therefore it is necessary to consider labor activity in retirement age as an element of the formation of the lifestyle of the older generation, where the role of labor as a factor of active longevity is given a special place. The creation of working conditions necessary for the use of working capacity is a long-term goal in ensuring active longevity and meeting the needs of older people in socially significant activities

scholarly journals An Analysis of the Effects of Public Investment on Labor Demand through the Channel of Economic Growth with a Focus on Socio-Professional Categories and Gender

2021 ◽  
Vol 14 (12) ◽  
pp. 580
Author(s):  
Mame Cheikh Anta Sall ◽  
Adriana Burlea-Schiopoiu
Keyword(s):  
Economic Growth ◽  
Labor Market ◽  
Computable General Equilibrium ◽  
Public Investment ◽  
Labor Demand ◽  
Gender Inequalities ◽  
Positive Discrimination ◽  
Employment Programs ◽  
And Gender ◽  
The Impact

The paper aims to analyze the impact of public investments generated by implementing the Emerging Senegal Plan (ESP) on economic growth and gender inequalities observed in the labor market in Senegal. A dynamic computable general equilibrium modeling was carried out for this purpose using a social accounting matrix (SAM) based on an extensive segmentation of the labor market according to gender and socio-professional category. The results prove that the investments made in priority market sectors led, overall, to a good trajectory of economic growth. Moreover, job creation followed the expansion of sectors of the economy, which increased their demand for labor because of the capital increase. In conclusion, there is a strong demand for qualified women (senior executives and middle executives). We recommend considering positive discrimination in favor of women by implementing public employment programs and the importance of recovery sectors affected by the pandemic.

scholarly journals THE IMPACT OF THE DIGITALIZATION OF THE ECONOMY ON THE LABOR MARKET

2020 ◽  
pp. 148-155
Author(s):  
О.А. Сайченко
Keyword(s):  
Labor Market ◽  
Labor Supply ◽  
World Economy ◽  
Labor Demand ◽  
The World ◽  
The Impact

Данная статья посвящена исследованию проблематики воздействия процессов цифровизации мировой экономики и отечественной экономики на рынок труда. В результате исследования выявлены тенденции трансформации рынка труда под воздействием цифровизации, направления изменения организации труда, структуры рынка труда, спроса на труд и предложения труда. The article aims to explore the impact of the process-es of digitalization of the world economy and the do-mestic economy on the labor market, as well as the vulnerability of workers under the influence of digitaliza-tion and mobility. The results of the study comprise trends in the transformation of the labor market under the influence of digitalization, directions of changes in the organization of labor, the structure of the labor mar-ket, labor demand and labor supply.

scholarly journals The Declining Labor Market Prospects of Less-Educated Men

2019 ◽  
Vol 33 (2) ◽  
pp. 163-190 ◽  
Author(s):  
Ariel J. Binder ◽  
John Bound
Keyword(s):  
Labor Market ◽  
Labor Supply ◽  
Labor Force ◽  
Labor Force Participation ◽  
Wage Inequality ◽  
Demand Curve ◽  
Labor Demand ◽  
Marriage Market ◽  
College Education ◽  
Participation Rate

Over the last half century, US wage growth stagnated, wage inequality rose, and the labor-force participation rate of prime-age men steadily declined. In this article, we examine these worrying labor market trends, focusing on outcomes for males without a college education. Though wages and participation have fallen in tandem for this population, we argue that the canonical neoclassical framework, which postulates a labor demand curve shifting inward across a stable labor supply curve, does not reasonably explain the data. Alternatives we discuss include adjustment frictions associated with labor demand shocks and effects of the changing marriage market—that is, the fact that fewer less-educated men are forming their own stable families—on male labor supply incentives. In the synthesis that emerges, the phenomenon of declining prime-age male labor-force participation is not coherently explained by a series of causal factors acting separately. A more reasonable interpretation, we argue, involves complex feedbacks between labor demand, family structure, and other factors that have disproportionately affected less-educated men.

scholarly journals The Impact of the Mariel Boatlift on the Miami Labor Market

ILR Review ◽  
1990 ◽  
Vol 43 (2) ◽  
pp. 245-257 ◽  
Author(s):  
David Card
Keyword(s):  
Labor Market ◽  
Labor Supply ◽  
Labor Force ◽  
Current Population Survey ◽  
Population Survey ◽  
Percentage Increase ◽  
Skilled Workers ◽  
Unemployment Rates ◽  
Using Data ◽  
The Impact

Using data from the Current Population Survey, this paper describes the effect of the Mariel Boatlift of 1980 on the Miami labor market. The Mariel immigrants increased the Miami labor force by 7%, and the percentage increase in labor supply to less-skilled occupations and industries was even greater because most of the immigrants were relatively unskilled. Nevertheless, the Mariel influx appears to have had virtually no effect on the wages or unemployment rates of less-skilled workers, even among Cubans who had immigrated earlier. The author suggests that the ability of Miami's labor market to rapidly absorb the Mariel immigrants was largely owing to its adjustment to other large waves of immigrants in the two decades before the Mariel Boatlift.

STUDY OF THE IMPACT OF RAISING THE RETIREMENT AGE ON ECONOMIC GROWTH IN THE DIGITAL ECONOMY IN RUSSIA AND EUROPE

2020 ◽  
Author(s):  
Svetlana Apenko ◽  
◽  
Olga Kiriliuk ◽  
Elena Legchilina ◽  
Tatiana Tsalko ◽  
...  
Keyword(s):  
Quality Of Life ◽  
Economic Growth ◽  
Economic Policy ◽  
Labor Relations ◽  
Pension Reform ◽  
Digital Economy ◽  
Institutional Changes ◽  
Retirement Age ◽  
The Impact

The article presents the results of a study of the impact of pension reform in Russia on economic growth and quality of life in a digital economy, taking into account the experience of raising the retirement age in Europe. The aim of the study was to identify and analyze the impact of raising the retirement age on economic growth in the context of the development of digitalization in Russia and a comparative analysis with European countries. Results: the studies conducted allowed us to develop a system of indicators characterizing the impact of raising the retirement age on economic growth and the quality of life of the population in the context of digitalization. The authors found that raising the retirement age leads to a change in labor relations in Russia and Europe. The application of the proposed indicators can be used in the formation of a balanced state socio-economic policy in the field of institutional changes in the field of labor relations and raising the retirement age. The study was carried out under a grant from the RFBR № 19-010-00362 А.

scholarly journals Impact of the COVID-19 Pandemic on the Romanian Labor Market

2020 ◽  
Vol 13 (1) ◽  
pp. 271
Author(s):  
Carmen Valentina Radulescu ◽  
Georgiana-Raluca Ladaru ◽  
Sorin Burlacu ◽  
Florentina Constantin ◽  
Corina Ioanăș ◽  
...  
Keyword(s):  
Labor Market ◽  
Health Insurance ◽  
Labor Force ◽  
Semantic Differential ◽  
Current Crisis ◽  
Health Crisis ◽  
Unemployed People ◽  
Lack Of Information ◽  
Main Effects ◽  
The Impact

The present research aims to establish the impact that the current crisis situation the planet is facing, namely the COVID-19 pandemic, has had so far on the Romanian labor force market. In this context, given the lack of information and information regarding this pandemic and its effects, the administration of a questionnaire among the population was considered to identify the research results. The method of semantic differential and the method of ordering the ranks were used for the interpretation of the results. With the help of this questionnaire, it will be possible to answer the question of the research in this study: What are the main effects of the COVID-19 pandemic on the Romanian labor market? The main results showed that the COVID-19 pandemic affected the Romanian workforce; the respondents of the applied questionnaire claimed that they obtained better results and maintained a similar income, but the health crisis also influenced the mentality of employees, with respondents stating that in the event of changing jobs, they would consider it very important for the new employer to ensure the conditions for preventing and combating COVID-19, as well as complex health insurance. However, analyzing at the macroeconomic level, it was found that the COVID-19 pandemic induced an increase in the number of unemployed people in the Romanian labor market.

scholarly journals The marriage unemployment gap

2017 ◽  
Vol 18 (1) ◽  
Author(s):  
Sekyu Choi ◽  
Arnau Valladares-Esteban
Keyword(s):  
Labor Market ◽  
Labor Force ◽  
Unemployment Rate ◽  
Crucial Role ◽  
Transition Probabilities ◽  
Demographic Changes ◽  
Men And Women ◽  
Main Driver ◽  
Married Individuals ◽  
Flow Decomposition

Abstract In this paper we document that married individuals face a lower unemployment rate than their single counterparts. We refer to this phenomenon as the marriage unemployment gap. Despite dramatic demographic changes in the labor market over the last decades, this gap has been remarkably stable both for men and women. Using a flow-decomposition exercise, we assess which transition probabilities (across labor force states) are behind this phenomenon: For men, the main driver is the higher job losing probabilities faced by single workers. For females, the participation margin also plays a crucial role.

scholarly journals HUMAN CAPITAL AND ITS ROLE IN THE FOURTH INDUSTRIAL REVOLUTION

2021 ◽  
Author(s):  
Yelyzaveta Snitko ◽  
Yevheniia Zavhorodnia
Keyword(s):  
Economic Growth ◽  
Human Capital ◽  
Labor Market ◽  
Technological Change ◽  
Industrial Revolution ◽  
Skilled Workers ◽  
Fourth Industrial Revolution ◽  
Modern Economy ◽  
The Future ◽  
The Impact

The development of a modern economy, in the context of the fourth industrial revolution, is impossible without the accumulation and development of human capital, since the foundation of the transformation of the economic system in an innovative economy is human capital. In this regard, the level of development and the efficiency of using human capital are of paramount importance. This article attempts to assess the role of human capital in the fourth industrial revolution. In the future, human talent will play a much more important role in the production process than capital. However, it will also lead to a greater division of the labor market with a growing gap between low-paid and high-paid jobs, and will contribute to an increase in social tensions. Already today, there is an increase in demand for highly skilled workers, especially in high-income countries, with a decrease in demand for workers with lower skills and lower levels of education. Analysis of labor market trends suggests that the future labor market is a market where there is simultaneously a certain demand for both higher and lower skills and abilities, combined with the devastation of the middle tier. The fourth industrial revolution relies heavily on the concept of human capital and the importance of finding complementarity between human and technology. In assessing the impact of the fourth industrial revolution, the relationship between technology, economic growth and human resources was examined. The analysis was carried out in terms of three concepts of economic growth, technological change and human capital. Human capital contributes to the advancement of new technologies, which makes the concept of human capital an essential factor in technological change. The authors emphasize that the modern economy makes new demands on workers; therefore it is necessary to constantly accumulate human capital, develop it through continuous learning, which will allow the domestic economy to enter the trajectory of sustainable economic growth. The need to create conditions for a comprehensive increase in the level of human capital development is noted.

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