The ageing population throughout Europe will have huge effects on the economy, labour and consumer markets. With the number of young people entering the job market declining, will the economy be able to accept the presently low participation pate among older population? The question is whether older workers are pushed out or they find other attractions in their retirement. The answer is both. The article investigates issue that lay behind these two factors, as well as concerns that surround the ageing population. It is well known that Britain has an ageing population. Like most other countries in Europe, it will experience an increase in life expectancy over the next decade, creating an older, dependent population. This will have a huge direct as well as indirect impact on the economy, a demographic time bomb that will affect both labour and consumer markets. As part of this trend, the fiftysomething age group is expanding. Baby boomers have reached maturity. From 20 per cent of the population today, they will grow to 25 per cent over the next few years. Yet fewer of them are in full-time employment. The proportion for men has fallen from 93 per cent in the Seventies to 75 per cent today, while for women it has remained constant at about 60 per cent. Consider that this is happening in an economy where skills shortages are growing.
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