Development of Labour Market Participation Until 2030 With Respect to Changes in Education Participation and Recent Pension Reforms. Update

The Austrian population will continue to grow over the next decades. At the same time the working age population is projected to increase until 2020 before declining again until 2030. In how far this demographic change will translate into changes in the actual labour force will mainly depend on the labour market attachment of the persons involved. This project analyses the development of labour force participation rates, explicitly accounting for changes in the educational structure, long-term trends in participation rates and recent tightening in pension law. These factors substantially affect labour force participation rates. Taking account of new population forecasts, this project works out new projections of labour force participation until 2030.