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[Over the last two decades of the twentieth century, the aggregate supply of labour was relatively stable. Simultaneously, we observed dynamic changes in economic activity in most age and sex groups. They were characterized by a substantial increase of economic activity of women and a considerable drop of activity of the oldest and youngest workers. Motherhood still depressed female labour force participation, but in ever more countries the development of childcare services and the evolution of social habits facilitated relatively high economic activity of women. For many of the countries under study, the female participation pattern resembled the male one, with only slightly lower levels of age-specific participation rates. The drastic decline of labour force participation in the oldest age groups was related to the development of social security systems and the possibility of early retirement. The decline of economic activity of young people can be attributed to technological progress, which, by creating demand for specific skills and knowledge, increased the value of education and delayed participation in the labour force.]
Published: Aug 30, 2012
Keywords: Labour Market; Participation Rate; Labour Force Participation; Early Retirement; Labour Force Participation Rate
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