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The Effect of Population Aging on Economic Growth, the Labor Force and Productivity
Report

The Effect of Population Aging on Economic Growth, the Labor Force and Productivity

Nicole Maestas, Kathleen J. Mullen and David Powell
NBER, 2016
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Editorial Rating

7

Qualities

  • Analytical
  • Innovative

Recommendation

The aging of the US population has critical implications for the American economy. This research study by health care expert Nicole Maestas and economists Kathleen Mullen and David Powell presents evidence that overall productivity is likely to suffer as more and more older workers retire. The report looks into the implications for economic growth of a graying workforce, and it makes a strong case against ageism in employment. getAbstract recommends this insightful and useful analysis to both employers and employees.

Take-Aways

  • From 2010 to 2020, the proportion of Americans in the 60-plus age group will grow by 21%; the years 2010 to 2050 will see an increase of 39% in this cohort.
  • Research shows that a 10% rise in the share of the older population leads to a reduction in per capita GDP growth of 5.5%.
  • Two-thirds of this decline reflects a deceleration of labor productivity advances, and the rest comes from a slowing in the growth of the workforce.

About the Authors

Nicole Maestas is an associate professor of health care policy at Harvard Medical School. Kathleen J. Mullen and David Powell are economists with the RAND Corporation.

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