A disheartening theme in many discussions about the societal implications of aging is that older populations are costly, less productive, and prone to economic stagnation or decline. In truth, older people make substantial and ever-increasing contributions to economic activity in North America through their labour, consumption spending, tax contributions, and non-market activities (e.g., volunteering and caregiving). Unfortunately, even as this group’s economic role grows, barriers such as age discrimination and poor health limit their economic potential and lower overall societal welfare.

How can we better appreciate and leverage the economic contributions of older people? How can we address the barriers of inequity that inhibit people from living longer, healthier and more productive lives? What can be done to help older workers navigate unprecedented labour market conditions? Do we need to rethink how we support and value caring across the life course?

On June 22, 2022,  AARP and the ILC-UK hosted a series of panel discussions on how governments and businesses can better support the Longevity Economy and capture the dividend that it offers.


Watch Recording

The Longevity Economy® Outlook Reports

Our Collective Future: The Economic Impact of Unequal Life Expectancy,

If we could eliminate disparities in life expectancy, the U.S. economy would be $1.6 trillion larger in 2030 alone. Our Collective Future: The Economic Impact of Unequal Life Expectancy, the latest report in the Longevity Economy outlook series, measures the potential economic benefit of life expectancy. Eliminating disparities in life expectancy today would lead to an additional $1.6 trillion in economic activity in 2030 which would represent an additional 5.1% of the projected GDP. Disparities we see today stifle economic growth and would also result in an annual loss of $1.1 trillion in total consumer spending alone in 2030.

The Economic Impact of Supporting Working Family Caregivers

If working family caregivers had more access to supportive policies, the economy would benefit as well. The Economic Impact of Supporting Working Family Caregivers, the report in the Longevity Economy outlook series, found that if family caregivers ages 50-plus have access to support in the workplace, the potential economic contribution could increase by $1.7 trillion (5.5%) in 2030 — and by $4.1 trillion (6.6%) in 2050.

The Economic Impact of Age Discrimination

Age discrimination against Americans age 50-plus cost the U.S. economy $850 billion in 2018. The Economic Impact of Age Discrimination, the report in the Longevity Economy outlook series, found that the potential economic contribution of the 50-plus age cohort could increase by $3.9 trillion in a no-age bias economy, which would mean a contribution of $30.7 trillion to GDP by 2050.

2019 Longevity Economy® Outlook

This outlook examines the 50-plus population’s economic contribution from various angles. We will consider the changing demographics of the 50- plus cohort as consumers, workers, and taxpayers before exploring their wider economic impact on Gross Domestic Product (GDP), jobs, and wages

For more information, contact Justin Ladner, Senior Policy Advisor (Longevity Economy) – Thought Leadership, AARP