Employment of older people (people over 55) in Spain increased by 78%, rising from 2.3 million to 4.1 million in 2022. Meanwhile, youth employment (under 30 years of age) fell from 4.6 million to 2.9. million, representing a decline of 37% over the same period.

These data are taken from the report “III Talent Map of the Older Generation: Young and Old People in the Labor Market, Collaboration Between Generations” promoted by the Research Center on the Aging Economy of the Mapfre Foundation in collaboration with the Mashumano Foundation. According to the document, this difference in employment dynamics between young people and older people reflects the “silverization” of the labor market, indicating that the older group will play an increasingly significant role in the Spanish economy, a trend that will continue to develop. .

Moreover, he emphasizes that “an older economy will mean that more older people (and younger people) will work and pay taxes, but above all, more Spaniards will benefit from being the best country in the world to grow old and create an entire aging industry.” it would force millions of people to come to our country.”

Likewise, it explains that the participation of young people in the labor market has declined significantly in recent years compared to the participation of older people. Currently, youth make up 16% of the total active population, and older people – 20%.

In this sense, the report indicates that there is a “devenization” of the labor market due to, among other things, demographic changes, the emigration of skilled workers, educational underachievement and the working conditions of this group.

UNEMPLOYMENT

The report highlights that the number of unemployed people under the age of 30 is twice the number of unemployed people over the age of 55. Young people make up 30% of the unemployed in Spain, with almost 900,000 people unemployed, significantly higher than the figure for older people (16.4%), which is close to half a million people (489,000).

However, despite the fact that there are fewer unemployed in the older group, unemployment among young people is decreasing, and in the older group it is increasing. During the period from 2008 to 2022, the number of unemployed older people increased by 300 thousand, and in the younger group of unemployed youth there were 153 thousand fewer.

Of course, long-term unemployment is more intense among those over 55, since more than 50% of older people have been in this situation for two or more years, compared to young people, where half have been in this situation for less than six months.

“These data reflect the difficulties in work that this group experiences due to age, as well as the prevalence, which is still very common, of professional ageism in Spain, that is, a form of social age discrimination that particularly affects older people. “, the study warns.

On the other hand, self-employment is more common among workers over 55 than among younger workers. Thus, while there are currently only 189,000 young self-employed people in Spain, there are 977,000 older self-employed people.

“This situation arises because, at a certain age, self-employment and entrepreneurship become an option in which older people can develop their special conditions and abilities,” the report analyzes.

In terms of industry, the Spanish economy’s “severe outsourcing” determines a strong concentration of workers in the service sector, both among older (77%) and younger (81%) workers, the report said.

PRESENTATION

The President of the Mashumano Foundation, Iñigo Sagardoy, attended the presentation of the report, which took place on Tuesday at the Sagardoy Abogados Hall; director of the Ageingnomics Research Center Juan Fernández Palacios and deputy general director of the Fundación máshumano Tomás Pereda. Rafael Puyol, Alfonso Jimenez and Iñaki Ortega, co-authors of the study, also took part.

The event was opened by the President of the Economic and Social Council (CES), Anton Costas, and the CEO of People and Organization of Mapfre, Elena Sanz.

The latter stated that “the current older generation, based on a culture of effort and savings, is also the real engine of the economy in terms of consumption and investment.” He also emphasized that “governments, companies and institutions are investing in senior dividends because it means stronger economic demand and, at the same time, job creation.”

In this regard, Juan Fernández Palacios stated that “it is important to implement measures that promote the employment of people over 55 years of age and combat professional ageism, thus avoiding the waste of talent that is currently occurring in Spain.”