Europe is facing constraints to growth and prosperity from its aging population, with the percentage of people in working age (aged 16-64) expected to drop from current rates of 65-70 percent to less than 60 percent of the total population by 2030.
Additionally, workforce participation rates among certain demographic segments, such as youth, are declining and putting a further curb on economic recovery. With more than 3.5 million people under 25 years old out of work, a significant rethink and concerted action is required from policymakers to respond to the challenges in the European jobs and skills market.
To investigate these important issues, Accenture launched a flagship study on Europe’s labour markets—“Towards World-Class Jobs and Skills in Europe”—exploring key themes and topics on the European employment agenda with a focus on how labour market productivity drives growth and competitiveness. This executive briefing builds on some of the key issues and insights explored in the study and presents outcomes from the European Centre for Government Transformation Roundtable on Employment and Skills, held in Brussels on 18 March 2014.