Labour shortages caused by retiring Boomers to be dominant economic trend

Labour shortages caused by the onslaught of Boomer retirements will be "the dominant economic trend" in Canada between 2015 and 2030, due to the limits it will place on the country's economic growth, says a Conference Board of Canada report. The oldest members of this cohort are turning 63 this year. With an average retirement age of 61, the board concludes that "the wave of Boomer retirements has now begun." Because the biggest part of this generation is at the younger end, the pace of retirements will accelerate in future years. The implications of the shrinking labour pool will be less economic growth, said Pedro Antunes, the Conference Board's director of national and provincial outlooks and author of the report. Some of the things that might be done, Mr. Antunes said, is increasing productivity through investments in equipment and technology, developing more efficient delivery of health care and government cutbacks. Read more here