All member states of the European Union will be in need of labour in the near future. Three factors are decisive for this development: low fertilityrates, extended life expectancy and, in most EU countries, a baby-boomgeneration in their late 50s and early 60s that will slowly be reaching retirementage over the coming decades. It is highly probable that, after a periodof moderate growth in the present decade, the EU population will stagnateuntil 2030, decline after that date and age significantly in the whole period until 2050.
As a consequence, EU countries will enter a phase of significantlabour shortage and will be confronted with tremendous problems in financing their social-welfare systems.
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