Young people leave, they are "replaced" in the labor market by retirees

While the employment indicators are improving from year to year, despite the economic crises caused by the Covid-19 pandemic and the war in Ukraine, the number of employed people is decreasing in the younger population groups, while it is increasing among the elderly. older ones.

INSTAT reported that in the fourth quarter of 2022, there were about 52,500 more people employed than in the same quarter of 2021, or about 4% more.

But employment by age group showed that for the same period, employment in the 15-29 age group was declining. In October-December 2022, there were 807 less employed people among young people up to 30 years old.

In October-December 2022, 274,526 young people (15-29 years old) were employed, or about 9 thousand people less than in the same period of 2018.

On the other hand, employment in the over 30 age group increased by about 65 thousand people.

INSTAT reports that 54,500 pensioners were employed in the last quarter of 2022, as the Labor Force Survey also asks people of retirement age whether they are engaged in work.

The third age will be more and more included in the labor market in Europe and Albania, because the increase in life expectancy makes people over the age of 65 productive.

Also, the development of technology can stimulate remote work for people of the third age, who can share their experiences, especially in teaching, finance and many other professions.

Working pensioners facilitate the social insurance schemes, which appear to be quite burdened by the process of population aging.

The Social Security Institute predicts that in the next three years, the number of pensioners added to the social security scheme will reach 48 thousand, with an average annual addition of 16 thousand new pensioners per year.

Because this year, the country's population will enter the process of rapid population aging, the number of pensioners will continue to grow at a faster pace.

To encourage over-65s to work, the government approved a bonus scheme in 2018, which is not yet being implemented.

In the government's decision, it was decided that for each year of work, the working pensioner will receive an additional pension of 2.4% per year./ Monitor