Carsten Brzeski's blog

The silver tsunami is almost upon us

Eurozone growth is being threatened by several structural challenges, not least an ageing population. And that's going to add yet more challenges to numerous economies, not least Germany, Spain and Italy

Executive summary
The growth in the Eurozone’s labour force is ending, adding yet more challenges to numerous economies. Not only does this report suggest the end of growth in the labour force will happen soon, it also reveals there could be a strong divide between Eurozone countries. If this scenario materialises, Germany, Spain and Italy will have significantly more difficulty achieving economic growth than, for example, France and the Netherlands.

In the report we look at:

  • The postponement of retirement and how its masked weakening demographics for years
  • When Eurozone labour force growth will end
  • The wider implications for the labour market
  • The implications for the European Central Bank

We also examine whether immigration can close the gap, whether automation will negate the problem and whether wage growth will finally improve.

Download report