Madrid’s labor market will not have a future if it does not rely on seniors

Madrid’s labor market will not have a future if it does not rely on seniors

The National Institute of Statistics has made public the latest data on aging in our country which, for another year, reflects an unstoppable trend: in 2021, Spain again recorded a new maximum of aging, of 129% or, what is also, there are already 129 over 64 years old for 100 under 16 years old. This figure represents the highest growth (3.4 percentage points) in the historical series since 1999, taking into account that last year it amounted to 125.7%.

In the case of the Community of Madrid, the trend is similar. The aging index also increased, by 2.66 percentage points, reaching 113.4%. In other words, there are 113 over 64 to 100 under 16. In 2020, the figure was 110.8%.

The current figures contrast with those of ten years ago, when the Community of Madrid was still young: in 2010, there were 90.73 people over 64 for every 100 children under 16.

This rebound in aging is occurring despite the fact that the pandemic has increased the number of deaths by 17%, particularly affecting the elderly. However, the number of births was also impacted, with a drop of 6%. Likewise, the short-term fertility indicator reached its lowest value since 2000 in 2020, with 1.1 children per woman, according to the INE. This collapse in the birth rate over the past year is linked to the uncertainty caused by the economic crisis, as well as the fear of health problems during pregnancy, circumstances that delay childbirth.

The deflated birth rate and skyrocketing aging rate have their most visible – and imminent – consequences for the pension system. The contributor-retiree ratio closed 2020 with a figure of 1.9, an index in everyone since 2007, when it was 2.7. “The current minimum value does not guarantee the sustainability of the pension system and requires an urgent response to challenges such as the systematic chronology of unemployment among the elderly working population or the promotion of tax and labor incentives that have an impact on families. and boost birth rates. »- affirms Francisco Mesonero, Managing Director of the Adecco Foundation.

Aging by autonomous communities

By autonomous communities, Asturias again leads the aging ranking, with an index of 231% (231 out of 64 percent under 16, a value that has increased by 6.5 percentage points compared to the ‘last year), followed by Galicia (207%) and Castille Len (204%). These 3 regions already have more than double the population over 64 years of age than those under 16. On the other hand, Ceuta (61.7) and Melilla (46.2) and Murcia (90.4%) are the only regions which resist with indices still below 100%, recording – still – a higher proportion of young people. .

The Community of Madrid, for its part, has an aging below the national level, occupying the fourth position in the ranking of the youngest regions of Spain, behind Murcia (90%), the Balearic Islands (105%) and the Andalusia (107%). ) -excluding the autonomous cities of Ceuta and Melilla, which have the lowest aging rates in Spain, 61% and 46% respectively -.

Senior talent: the great challenge of the 21st century

In view of the above figures, the Adecco Foundation is strengthening the debate on senior talents as the only alternative for the future of our country: “faced with aging figures of such magnitude, it is urgent to position senior talents as a national priority, both in terms of public policies and commercial strategies, so that age discrimination is definitively eradicated and the unemployed over 45 can re-establish themselves on the labor market ”- emphasizes Francisco Mesonero .

In fact, el talento senior sigue sin ser un asunto prioritario para el 74% de las empresas y el 52% admitted encontrar frenos para la incorporacin de profesionales mayores de 45 aos, segn el inform #TuEdadEsUnTesoro, presented by Fundacin Adecco in este mes of June. In addition, 86% of the older unemployed believe that age is detrimental to their access to employment. “These percentages come up against the full force of the demographic situation, the seniors being the dominant workforce but, at the same time, the one which encounters the most obstacles to consolidation in the labor market” – underlines Mesonero.

Indeed, 56% of the unemployed over 45 have been unemployed for more than a year, against 45% in general, a percentage which explains the trend towards chronic unemployment among seniors.

In this regard, the manager explains that “it is essential to strengthen active employment policies and public-private collaboration, being the main instruments to requalify seniors who have lost their jobs and to relocate them, if necessary, in other sectors that they are currently generating demand ”.

Finally, Mesonero warns against the need to stimulate the participation of the most inactive segments of the population so far (women, people with disabilities, etc.), to compensate for the lack of generational renewal and to stimulate, at the same time , inclusion and equal opportunities for the most vulnerable.

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