Work longer and study more to fight the robot revolution, says PwC
Work longer and study more to fight the robot revolution, says PwC
The Government must do more to keep older workers in jobs if Britain is to combat the twin challenges of an ageing population and increased automation, according to a new report.?
PwC analysis showed the UK lagged behind countries such as Mexico and Chile in terms of keeping older workers in employment, closing the gender pay gap and helping workers to seize new opportunities through training.
Britain’s “middling” performance saw the country slip one place to 19th out of the 34 Organisation for Economic Co-operation and Development (OECD) rich nations included in the PwC stThe accountancy giant warned that Britain’s lacklustre performance had stretched over more than a decade.
It claimed that if the UK’s employment rate among over-55s matched levels enjoyed in Sweden, it would boost the size of the British economy by around 4.2pc in the long term - or around £80bn at current prices.?
The UK employment rate among 55 to 64-year-olds stood at 63.4pc last year, compared with 75.5pc in Sweden, according to PwC analysis of OECD data.?
PwC praised Sweden’s focus on adult education which it said had helped to “boost the employability of older workers, encouraging working later in life".
?It said workers in countries such as the UK would have to work longer, supported by better training and more flexible forms of retirement in order to ease the “significant financial pressure on health, social care and pension systems” that would “only increase over time”.udy
The Government must do more to keep older workers in jobs if Britain is to combat the twin challenges of an ageing population and increased automation, according to a new report.?
PwC analysis showed the UK lagged behind countries such as Mexico and Chile in terms of keeping older workers in employment, closing the gender pay gap and helping workers to seize new opportunities through training.
Britain’s “middling” performance saw the country slip one place to 19th out of the 34 Organisation for Economic Co-operation and Development (OECD) rich nations included in the PwC stThe accountancy giant warned that Britain’s lacklustre performance had stretched over more than a decade.
It claimed that if the UK’s employment rate among over-55s matched levels enjoyed in Sweden, it would boost the size of the British economy by around 4.2pc in the long term - or around £80bn at current prices.?
The UK employment rate among 55 to 64-year-olds stood at 63.4pc last year, compared with 75.5pc in Sweden, according to PwC analysis of OECD data.?
PwC praised Sweden’s focus on adult education which it said had helped to “boost the employability of older workers, encouraging working later in life".
?It said workers in countries such as the UK would have to work longer, supported by better training and more flexible forms of retirement in order to ease the “significant financial pressure on health, social care and pension systems” that would “only increase over time”.udy
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