Mature-age Labour Force Participation: Trends, Barriers, Incentives, and Future Potential
The high impact of increasing mature worker participation
This briefing presents historical and international precedents for higher mature-age labour force participation rates in Australia, summarising available data as well as looking at the public policy response so far and the potential for further intervention.
The economic case for higher mature-age labour force participation is strong. A five percentage point increase to participation rates of 50-69 year olds is projected to be worth 2.4% of GDP in 2050. And if Australia had the same mature-age participation as New Zealand, GDP in 2012 would be 4% higher.