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The aging of the work force is a global phenomenon. The main reasons for this historical change are (i) the large baby boom generation born in the 1940s-1950s is entering its 50s, and (ii) the subsequent generations have been relatively small. For example, in the European Union (EU) the relative proportion of those aged 50-64 years will be about 27% of the entire work force in 2005. In 2025, this proportion will approach 35%. During the same period, the youngest part of the work force, those aged 15-24 years, will decline, and form only 17% of the EU work force. As a consequence, there will be potentially double the number of older workers as compared to younger workers in the EU over the next 25 years (Eurostat, New Cronos 1998).
Ilmarinen et al. (Wed,) studied this question.
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