Older workers do not steal jobs from young people and wages and job prospects for the under-50s would actually improve if baby boomers were kept in work longer, a study found.
Ros Altmann, the Government’s older workers’ champion, said the idea that older workers took jobs from the young was a “myth”.
Because the lump of labour fallacy is indeed a fallacy.
There is no fixed number of jobs in hte economy, there is no set amount of work that needs to be done. More people working creates more demand for the things those people can afford to purchase, pushing up the total number of jobs in the economy. This is true whether it’s wrinklies and crumblies working or not.