The old aren't stealing our jobs

Baby boomers just as harmless as they look.

As people live longer and pension plans are put under pressure, there's been a fairly pervasive thought that younger workers are getting squeezed out by an ageing workforce, holding onto their jobs with spindly arthritic fingers that just refuse to snap.

But it turns out this view is not entirely correct. It turns out that the opposite is correct. After looking at jobs data recorded between 1977 and 2011, the Centre for Retirement Research found, in fact, that "greater employment of older persons leads to better outcomes for the young in the form of reduced unemployment, increased employment and a higher wage”.

So filling up jobs with the elderly actually helps younger people? How is this possible? Well, it's only surprising if you agree with the "lump of labour" theory - the idea that there's only so much work to go around. According to the report however, evidence for this theory is dwindling.

It said: “Employers already have reservations about older workers, so adding the false argument that retaining older workers hurts younger ones could impede the ability of older workers to remain in the labor force. Therefore, public discourse will be improved by putting the lump-of-labor theory to rest. The theory may sound plausible, but the data do not support it.”

The widely touted tussle between generation Y and the baby boomers may be drawing to an end.

Looks harmless, is in fact harmless. Photograph, Getty Images

Martha Gill writes the weekly Irrational Animals column. You can follow her on Twitter here: @Martha_Gill.

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Italian PM Matteo Renzi resigns after referendum No vote

Europe's right-wing populists cheered the result. 

Italy's centrist Prime Minister Matteo Renzi was forced to resign late on Sunday after he lost a referendum on constitutional change.

With most ballots counted, 60 per cent of Italians voted No to change, according to the BBC. The turn out was nearly 70 per cent. 

Voters were asked whether they backed a reform to Italy's complex political system, but right-wing populists have interpreted the referendum as a wider poll on the direction of the country.

Before the result, former Ukip leader Nigel Farage tweeted: "Hope the exit polls in Italy are right. This vote looks to me to be more about the Euro than constitutional change."

The leader of France's far-right Front National, Marine Le Pen, tweeted "bravo" to her Eurosceptic "friend" Matteo Salvini, a politician who campaigned for the No vote. She described the referendum result as a "thirst for liberty". 

In his resignation speech, Renzi told reporters he took responsibility for the outcome and added "good luck to us all". 

Since gaining office in 2014, Renzi has been a reformist politician. He introduced same-sex civil unions, made employment laws more flexible and abolished small taxes, and was known by some as "Europe's last Blairite".

However, his proposed constitutional reforms divided opinion even among liberals, because of the way they removed certain checks and balances and handed increased power to the government.

 

Julia Rampen is the editor of The Staggers, The New Statesman's online rolling politics blog. She was previously deputy editor at Mirror Money Online and has worked as a financial journalist for several trade magazines.