Managing demographic transitions in local labour markets

Demographic changes will have broad economic, social, and political impacts worldwide, with some local areas experiencing the effects of an ageing population, stagnation in population growth, or even shrinking populations particularly sharply. For these areas, the importance of strengthening economic and social resilience – as opposed to a singular focus on growth – is clear. Better managing and supporting older workers will become increasingly relevant, including creating opportunities for more flexible working later in life and easing transitions into retirement. Additionally, new economic opportunities will come from an increased demand for products and services oriented to the ageing population (the “silver” and “white” economies).