Navigating the Golden Years: Making the Labour Market Work for Older Workers

Rising life expectancy is one of society’s great achievements, offering people the chance to live not just longer but healthier and more productive lives. Fertility rates may be declining and workforces shrinking, but longevity also creates opportunities for extended careers, new forms of lifelong learning, and a rethinking of work and retirement.Employment rates among older workers have risen sharply – up more than 15 percentage points since 2000 for those aged 55-64 – and evidence shows that firms with more age-diverse workforces can be more productive. Yet challenges remain: older adults are less likely to participate in training, mobility between jobs declines with age, and stereotypes about adaptability and productivity persist.Realising the potential of longevity will require a comprehensive agenda: fostering lifelong learning and mid-career transitions, enabling flexible retirement pathways, tackling ageism, and supporting healthier, higher-quality work. By viewing ageing as an asset, societies can mobilise untapped talent, strengthen intergenerational fairness, and turn demographic change into a driver of prosperity and resilience.