Generation Y and the Workplace Annual Report 2010 - Haworth

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Who is the Generation Y in UK?
More 18 years olds would be available until 2012
to enter the workforce than would leave at 65.
The situation reverses in 2012, although the
gap between new replacements and numbers of
retirees shrinks in the following years to 2016 31 .
Of course the whole population is not available to
work. The Labour Market Overview for June 2009
indicates a working age employment rate of 73.3
%. Economic inactivity in 18 – 24 year olds has
increased as it has in other age groups except 50
to retirement, which has been the only age group
to experience a fall 32 .
Figure 6: UK – Demographic pyramid, 2009 33
Source: U.S. Census Bureau, International Data Base
Global WorkPlace Innovation
Apart from lack of employment opportunities
linked to the recession, economic inactivity among
the 18 – 24 year olds is attributed to a record high
of student numbers. As for the 50 to retirement
age group, many are remaining in work as long as
possible in the face of a pension crisis exacerbated
by the recent events in the financial sector.
The overall picture is complex but we can say that if young people continue accessing full-time
education, this diminishes the numbers of 18 -24 year olds in the workplace but is partially offset by the
older workers postponing retirement.
Something else is happening, apart from their insufficient numbers, to make them valuable.
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Intellectual Property Johnson Controls, Haworth and iDEA.
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