Australia makes biggest improvement of any country in hiring mature-age workers
A latest international study from PwC indicates Australia making the most significant improvement of any country in providing jobs for mature-age workers. From being ranked at 12th, the nation has climbed to 16th in the new OECD rankings.
The analysis shows Australia, Germany and Israel seeing the biggest improvements in rankings. It was based on several factors like employment rates, full-time earnings and participation in trainings of 55 to 64-year-olds to 25 to 54-year-olds since 2003.
According to Jeremy Thorpe, PwC's chief economist, Australia has advanced from being in the middle of the pack to the top third of the 34 countries. He recognised that the nation continuously improves in leveraging mature-age workers, but also noted that Australia remains far behind New Zealand, which has secured the second spot.
"If Australia could boost employment rates for those aged over 55 to Swedish levels, which still ranks lower than New Zealand on the Index, we could potentially add 4.5 per cent to our GDP,” the Sydney Morning Herald quotes Thorpe as saying. Australia managed to rank fifth behind Austria, Greece, Portugal and Belgium based on full-time earnings.
As for employment rates, it ranks 13th for 55 to 64-year-olds. It rose into third place among OECD countries for employment rates of 65 to 69-year-olds.
Sixty-six-year-old Alister Robertson has come across employers who have not wanted to hire someone his age despite industry qualifications. On Wednesday, he landed a new job with PriceWaterhouseCoopers.
PwC global people business leader Jon Williams said the data indicates the employment of older workers does not hinder the path for younger people. In contrary, he said it actually makes the nation stronger as more workers imply more demand and more jobs in the economy.
For Three Sisters Group founder and chief executive Catherine Rickwood, the latest PwC data was a good news. She pointed out, however, that it is not a reason for complacency as it was not good and clear enough. There is reportedly still a lot of work to be done.
Last year, the Human Rights Commission considered employment for older people a challenge. It has reportedly learned that ongoing, systemic age and disability workforce discrimination have become a huge drain in the economy with upsetting consequences for individuals.
The national inquiry found that about a quarter of the population are 55 and above. However, they can make up just 16 percent of the total workforce.
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