The need to extend working lives in the Spanish economy

Summary

Labour market participation by older workers in Spain is low compared with the OECD average due to the lower employment rate of these workers Several factors affecting labour supply and demand explain the lower rates of labour market participation and employment for older people in Spain compared to OECD countries Two reasons play in favour of extending working lives in Spain. First, the negative effects on the sustainability of the pension system of ageing and the delayed entry into the labour market due to more years of schooling. Second, the positive effects on youth employability and the cognitive performance of older people To encourage older people to remain in the job market, concerted actions are required to remove obstacles limiting labour supply and demand

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