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The Opportunity in Aging
With the pandemic and technological change upending labor markets around the world, midcareer workers over 45 increasingly find themselves out in the cold. But this neglect is not only morally wrong and socially risky; it also represents a massive missed economic opportunity.
WASHINGTON, DC – Media coverage of the world’s aging population, especially in wealthy OECD countries, tends to be angst-ridden. Headline writers and researchers warn of a coming “silver tsunami,” detailing – often in apocalyptic terms – all the burdens that aging poses for society, from paying for pensions to managing rising health-care costs. When the discussion turns to older workers, an often-expressed fear is that automation and digitization will accelerate layoffs, swelling the ranks of those who have been cast adrift mid-career.