If Albo wants to boost jobs for oldies, he must cut immigration

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In a plea for the grey vote, Labor leader Anthony Albanese has promised to keep older Australians in work:

More than 72,000 Australians aged 55 to 64 are unemployed, and over-45s who lose their job struggle to get work again, [Albanese] says. Instead, they face “spiralling down towards a pretty lean retirement”…

In 1927, just 5 per cent of Australians were 65 or older. By 2017, that figure was 15 per cent, and by by 2057, it is expected to be 22 per cent, Mr Albanese says. In response, he promises to develop a “positive ageing strategy”.

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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.