Business students’ perceptions of an aging workforce, higher retirement age and youth unemployment
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Author(s)Rahat RahatLink to ORCID Index: https://orcid.org/0000-0003-3048-0239
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Olayemi Abdullateef AliyuLink to ORCID Index: https://orcid.org/0000-0003-4083-9153
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Chux Gervase IwuLink to ORCID Index: https://orcid.org/0000-0002-6290-9864
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DOIhttp://dx.doi.org/10.21511/ppm.17(4).2019.35
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Article InfoVolume 17 2019, Issue #4, pp. 430-440
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- 782 Views
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180 Downloads
This work is licensed under a
Creative Commons Attribution 4.0 International License
The relationship between an aging workforce, higher retirement age, and youth unemployment has already been established in the available literature. However, the empirical research on the impact of an aging workforce, and higher retirement age on youth unemployment is limited, has conflicting results, has occurred mostly overseas, and has not considered the perceptions of young people who are about to enter the workforce. Hence, this paper aims to investigate the perceptions of the youth on the relationship between the aging workforce, higher retirement age, immigration policies, and youth unemployment. Structural equation modelling was used to analyze the responses of 183 business students. The findings establish that five relationships were supported out of seven hypothesized relationships. The key research finding reveal that immigration policies and higher retirement age are significantly related to youth unemployment. Lastly, the theoretical and managerial implications of the study were discussed, along with the limitations and recommendations for future research.
- Keywords
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JEL Classification (Paper profile tab)J26, J61, J64
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References43
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Tables5
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Figures2
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- Figure 1. Conceptual framework
- Figure 2. Findings from the structural model
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- Table 1. Measurement items, factor loadings, Cronbach’s alpha, and composite reliability
- Table 2. Squared multiple correlations (R2)
- Table 3. Goodness of fit index for the model
- Table 4. Results for the direct relationships
- Table 5. Mediation effect
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Population aging in terms of generational cohorts in the context of labor productivity in the Slovak Republic
Adriana Grenčíková 
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Jana Španková ,
Richard Rigó ,
Monika Gullerová
doi: http://dx.doi.org/10.21511/ppm.21(4).2023.43
Problems and Perspectives in Management Volume 21, 2023 Issue #4 pp. 577-590 Views: 224 Downloads: 58 TO CITE АНОТАЦІЯThe aging of the population is the main global demographic trend of the 21st century and one of the main factors in the formation of supply in the labor market. This study focuses on the aging of the population, which, in the context of the labor market, represents a problem for countries to sustain economic growth. The aim is to determine, based on the analysis of available statistical data, the impact of population aging on labor productivity and the labor market in the Slovak Republic. It also seeks to define how to mitigate the effects of population aging on maintaining economic growth and social stability without raising the retirement age. The study analyzed statistical indicators, utilizing OECD population projections and linking them to macroeconomic indicators (GDP, employment). Assuming GDP growth (3%) and labor productivity (2%) per year while maintaining 70% employment in comparison with population growth presented in the OECD forecasts, there will be approximately 367,000 unfilled jobs on the labor market in the Slovak Republic. Proposed solutions include pension reforms, investment in innovation and education for increased productivity, support for families to raise birth rates, simplified employment of workers from third countries, and improved working conditions for women. Addressing women’s working conditions can help compensate for the shortage in the aging workforce when combined with other solutions.
