The OECD explained the meaning of incentivizing career change after 45 years of age

The Organization for Economic Cooperation and Development has recommended governments to adapt the global labor market to the aging workforce by redistributing it. This was reported by the Kommersant newspaper on November 18 with reference to the OECD report.

According to the authors, such measures are necessary due to the fact that by 2050 one out of six workers in these countries will be over 65 years old. In this case, a change of profession at an older age can bring significant benefits, analysts believe.

It is noted that, according to statistics, workers aged 60 years old retain their place of employment with a probability of 62% if they changed their occupation from 45 to 54 years old. If this did not happen, the probability is only 54%.

At the moment, young workers are the most likely to change their occupation, the experts pointed out. After 45 years of age, the activity of changing profession decreases due to age discrimination (43% of cases), location of a new job (35%) or lack of career opportunities (22%).

Earlier, on September 18, Bloomberg predicted that the U.S. will face a shortage of 6 million workers by 2036 due to a rapidly aging population and a mismatch between employees and their jobs. According to the study, within five to seven years, the demands of American employers will not match the growth rate of the working-age population.