Ageing Population Creates $9 Billion Economic Contribution

Ageing Population Creates $9 Billion Economic Contribution

Older New Zealanders are driving a major economic shift, contributing nearly $9 billion annually through paid work alone, according to a new study.The New Zealand Institute of Economic Research found people aged 65 and over now make up a larger share of the workforce than at any point since tracking began in 2011.The Business of Ageing report, commissioned by the Office for Seniors, revealed self-employment income among older workers is worth ar…

Report shows economic contribution of seniors

The latest Business of Ageing report shows older people are increasing their contribution to New Zealand’s economy through paid work, running businesses, taxes, spending, and unpaid care, Seniors Minister Casey Costello said. “Everyone with parents and grandparents knows about the incredible contribution of our seniors,” Ms Costello says. “This report quantifies, in economic terms, how big that contribution is. Paid work by people aged 65 and ov…