New research from Monash University has found Australia’s employment and real GDP could increase significantly if older workers managed their health better.
The research looked at the relationship between health and workforce participation to analyse the effects of chronic disease.
Dr George Verikios of the Centre of Policy Studies found significant economic benefits for improved health in older workers. “We found health improvements for 10 per cent of the unhealthiest older workers (those aged 49-60) could have strong effects on the country’s economy.
"We estimate employment could rise by 0.13 per cent and real Gross Domestic Product (GDP) by 0.1 per cent over the period 2011-2030. Similar improvements in health status for younger workers (those aged 29-38) lead to much smaller effects with employment forecast to rise by 0.01 per cent and real GDP by 0.008 per cent.”
Read more at Monash University