UK productivity risks getting worse because the nation's ageing population means there are fewer younger, more dynamic people in the workforce, who historically innovate more, according to research from the National Institute of Economic and Social Research. The report found that by 2030, Britain's workforce will be older than it was at its peak in 2007, with a shrinking proportion of young people. " The share of young workers impacts the innovation process positively and, as a result, a change in the demographic profile that skews the distribution of the population to the right [older], leads to a decline in innovation activity," it warned.
UK productivity risks getting worse because the nation's ageing population means there are fewer younger, more dynamic people in the workforce, who historically innovate more, according to research from the National Institute of Economic and Social Research. Unless the number of young workers increases or there is a boost in skills and creativity, UK growth will struggle to pick up. "The share of young workers impacts the innovation process positively and, as a result, a change in the demographic profile that skews the distribution of the population to the right [older], leads to a decline in innovation activity," it warned.