Golden Age Index 2016
How well are OECD countries harnessing the power of their older workers?
OECD countries could add $2.6 trillion to their total GDP if the employment rate for workers aged over 55 was equal to best-performing EU country Sweden, according to PwC economists.
Our Golden Age Index is a weighted average of seven indicators that reflect the labour market impact of workers aged over 55 in 34 OECD countries, including employment, earnings and training.
The 2016 edition of the report finds that:
- The Nordic countries again perform strongly on the Golden Age Index.
- Israel, Germany and New Zealand have shown the most significant improvement from 2003 to 2014.
- The UK has fallen 1 place in the rankings since 2003, from 17th place to 18th place in 2014.
- The OECD could add around $2.6 trillion to its total GDP if countries increased their employment rates for over-55s to Swedish levels.
- If the UK’s employment rates for workers aged 55+ were increased to Swedish levels, UK GDP could be around 5.8% higher, equivalent to around £105 billion at 2014 GDP values.
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