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Сonsumers and workforce become older and older in Germany

posted Dec 13, 2008, 4:35 PM by Gunnar Rögnvaldsson   [ updated Dec 13, 2008, 4:36 PM ]

Сonsumers and workforce become older and older in Germany

Thursday, 11. December 2008

While in the year 2006 fifty percent of the German population was younger than 42 years of age, by the year 2025 half of the German population will by older than 47 and in the eastern regions of Germany even older than 53 years of age. These are the findings of a new study on the development of the German population carried out by the Bertelsmann foundation. At the same time the average age of people on the labor market is increasing as well. In its internet portal called “Wegweiser Kommune” the Bertelsmann foundation publishes data, facts and forecasts on the consequences of demographic change for all communities in Germany with at least 5000 inhabitants.

The demographic change in Germany will affect local markets as well as the business strategies and product ranges of manufacturers and traders. By the year 2025 the number of people older than 80 will increase by 70% which means that the percentage of people of this age group in proportion to the overall population will almost double to 8%. The percentage of people older than 80 years of age will be highest in towns such as Hoyerswerda (15.3%), Suhl (12.7%) and Dessau (12.1%). But also in the west in some towns and cities, e.g. Baden-Baden (10.8%), there will be demographic change.

Businesses, on the other hand, have to adapt to ageing employees. Thus, the group of potential employees in the age group from 45 to 64 will increase by 1.4 million by the year 2025. The age group of younger potential employees from 25 to 44 years will, on the other hand, decrease by 3.7 million people. Given that the number of very young people (16 - 24 years) will fall by about 2 million people, there will be a lack of people on the labor market. Companies of any size will have to adapt to this development by creating apt working conditions for older people and by investing in further training and corporate health programmes. Those companies which best adapt to the needs of older people and therefore are able to use their potential best, will gain a competitive advantage.сonsumers-and-workforce-become-older-and-older-in-germany/