Home Population The aging of the population will push up wages

The aging of the population will push up wages

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Professor Charles Goodhart – professor emeritus at the London School of Economics – told a European Central Bank forum that the aging of the world’s population will reduce the supply of workers, tighten labor markets and lead to a salary increase :

“In many key continental countries, the growth of the working-age population is not going to slow, it will actually decline. So all the factors that led to an increase in the workforce, the accompanying reduction in bargaining power, the decline of unions, etc., all of this will now be reversed. And we are already starting to see… a fairly rapid shortage of labor in many sectors ”…

“This [will make] labor availability, to be out of your ears, to be hard to find, and people will raise wages in order to cope with the labor shortages they will increasingly face, not just temporarily.


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