What’s So Bad About Canada’s Aging Workforce?

Canada’s aging workforce | BCBusiness
Workers aged 55 and up aren’t retiring early to drink G&T’s, says Tony Wanless. They’re here to get some work done.

Canada’s aging population is threatening the future Canadian economy, say statisticians. Rubbish. Instead, it will probably help it.

Big bleats and warnings from Statistics Canada and a bunch of economists about Canada’s aging workforce. Seems the sky is falling because one in four workers in the year 2021 could be age 55 or older, the ever-so-serious statistics agency says.

Now, if anything, we in B.C. have a pretty good view of an aging population. So maybe we can provide some tips for the boffins who see this as a major calamity.

First of all, when people are older they tend to settle in a place for their future years. Call it recreational living, but they have a tendency to move to places like B.C.

This in turn creates an industry dedicated to serving all those – uh – aged newcomers. It boosts the economy.

Also, many of those newcomers may continue working in this new industry. In fact, they’d probably welcome them because they don’t involve a lot of responsibility, gives them something to do, and provide some extra money to supplement savings.

Also, what’s so bad about a quarter of workers being over age 55? Especially considering most people are already starting to delay traditional “retirement” by continuing working, especially in their own businesses.

I mean, this isn’t an economy of factory work any more. It’s mostly services, often based on skills and knowledge, and it will be more so in 2021 when the transition is more advanced. So, I would think that most boffins would want those workers to be older. They’ll be far more patient and expert in what they’re doing.

But mostly, this kind of alarmist statistic-mongering just proves my belief that many statisticians have their heads up their …. well, are hidden within their own statistical cocoons. They crunch their numbers and project into the future separated from the world around them.

And its pretty clear that world and its concept of “retirement” is changing. Even today, not many people drop out of the work force at 55 and lay around drinking gin and tonics while occasionally hitting a golf ball out into a nearby fairway.

Most are far too active for that.

So don’t worry, these older folks won’t be responsible for the supposed “negative implications” on the Canadian economy, whatever those are.

They’ll be too busy working.