Signal Workers aged 60 and over participate and earn far less than prime-age workers

Summary

Labour force participation among people in their 30s to 50s is around 80 percent, while for those aged 60 and over it is below 50 percent. Average pay per wage worker aged 60 and over is also markedly lower than for those in their 30s to 50s. The participation figures refer to 2024 and the wage figures to average 2023 earnings from wage jobs. As the population ages, the authors expect this participation gap to become a main source of slower growth in employment. The wage gap is presented alongside earlier research that finds ageing weighs on total factor productivity, suggesting a larger elderly share may also burden productivity.