Human Capital Issues in an Ageing Workforce

Almost half the New Zealand workforce is now over the age of 40. This ageing trend will continue as smaller cohorts follow the baby boom bulge through the population. At the same time, skills and labour shortages are emerging. An imperative for the future is to improve the human capital we already have by maximising the potential of older workers. If those in mid-life are unable to contribute their full economic capacity due to unemployment, underemployment, premature retirement, discrimination or other circumstances, this has implications for their individual futures, for business enterprise and for society as a whole. This paper raises issues surrounding investment in human capital at the macro and micro levels, work-life balance, age discrimination, education and training. Expanding on the last, current patterns of educational participation by people in mid-life and later life are examined using national statistics and information from a New Zealand case study.