Fourth, since the baby boomers are better educated than the current cohort of retiring workers, they may find it easier to adapt to changing work environments. All of these factors mean that the aging of our population over the next two decades need not have as serious an effect on economic growth as some fear.
But we will need to increase productivity and to prepare our workforce and our economy for the demographic realities ahead. A focus on skilled labour This leads naturally to the subject that I will discuss in the remainder of my remarks tonight.