THE LABOUR MARKET, HUMAN CAPITAL AND MIGRATION: AGEING AND STRATIFICATION OF SOCIETY

Purpose: This chapter analyses the labour market and human capital development in 13 European Union (EU)-adopted countries. It discusses innovative activities for various target groups, addressing demographic challenges and social issues related to labour market developments, highlighting positive experiences and practical solutions for improved human capital development. Need for study: Demographic challenges, such as ageing societies and information and communication technology (ICT), are causing further stratification in Europe and increasing pressure on human capital development. Positive experiences reduce economic imbalances and achieve sustainability goals in human capital development, including successful application of the ‘silver economy’. Methodology Representative data from randomly selected households implemented in all EU and candidate countries using the same Eurostat methodology, and Household Finance and Consumption Surveys conducted in all Eurozone countries, Hungary, and Poland, implemented by national banks and supervised by the European Central Bank, where representative survey data are available for comparative studies. Findings: Academic researchers are focusing on human capital development for the elderly population, exploring demographic processes and the silver economy to support their labour market involvement. Increased adult education and internet usage in new EU countries show significant income increases, with the highest increase in countries with larger adult education shares. Health issues are also being studied for elderly labour market retention. Practical implications: This study suggests policy measures to address human capital development issues, particularly in the context of demographic challenges, investing in all age groups, avoiding economic bottlenecks, and preventing burnout to maximise labour market retention. These solutions could enhance Europe’s competitiveness.