Given that the ageing effect I have already mentioned is also taking place among the labour force, we must ask ourselves how this group’s labour productivity is likely to develop. Is it true that productivity drops as the labour force ages, as has often been suggested? The answer appears to be “no”.
More recent empirical studies in this area suggest that the level of labour productivity of employees who are getting older is likely to remain largely the same. Although physical and cognitive capacities generally decrease with age, they are compensated for by growing professional and practical experience. As a result, the contrasting productivity effects are likely to more or less balance each other out.