Most Ukrainians may be forced to work until the age of 70-75, economists estimate

In Ukraine, due to demographic changes, the consequences of war and migration, the duration of the population’s working life may increase significantly in the coming decades. According to economist Hlib Vyshlinsky, many Ukrainians may be forced to work until the age of 70–75, since pensions may not be sufficient to maintain a decent standard of living.

According to the expert’s forecasts, the situation on the labor market in Ukraine is becoming more complicated due to the demographic crisis and the consequences of the war, which lead to a decrease in the number of able-bodied citizens.

Hlib Vyshlinsky notes that Ukraine already has a problem with a high mortality rate, especially among men. The full-scale war has further exacerbated this situation, which ultimately leads to a decrease in the labor force.

The economist emphasizes that, taking into account the possible insufficient size of pensions, many Ukrainians will have to remain in the labor market even at a respectable age in order to be able to provide for themselves.

The issue of labor migration is raised separately, in particular the departure of educated middle-aged women abroad, which complicates the search for employees for administrative and office positions in Ukrainian companies. Traditionally simpler tasks are becoming the responsibility of more experienced specialists.

Due to the shortage of labor, the country’s economy is undergoing changes. One of the main areas of adaptation will be the automation and mechanization of production. Many companies are already actively starting to introduce new technologies at their enterprises.

However, significant investments are needed for large-scale modernization. Without financial injections, modernization may occur more slowly.

Another important step will be to review migration policy. The economist believes that Ukraine will need to actively attract foreign labor, since there is a shortage of Ukrainian workers in many vacancies.

However, this may lead to new social and cultural challenges for society.

Demographers also warn of significant population losses, which may amount to about 10 million people due to war and emigration. In a declining population, older workers may become especially valuable in the labor market, which has been called the “silver age” of the economy.

It was previously reported that a pilot program “Experience Matters” has been launched in Ukraine, which focuses on the employment of people aged 50 and older.