Six Million Italian Workers Set to Retire in Next Decade

Rome: Italy’s workforce is going to lose over six million people who are set to retire in the next decade, as the nation’s population continues to rapidly age, Natale Forlani, the president of National Institute for the Analysis of Public Policy (INAPP), said on Tuesday.

According to Ansa News Agency, Forlani stated at a parliamentary commission hearing on the demographic transition that approximately 6.1 million Italians will exit the labor market in the next ten years. He highlighted the potential crisis this generational exodus poses, with the risk of leaving the country without sufficient replacement workers and challenging the resilience of the welfare system. The working-age population, defined as those aged 20 to 64, is projected to decrease by 34% by 2060, which could have significant implications for economic growth, welfare, and the sustainability of public spending.

Forlani emphasized the urgent need for policies aimed at regenerating the working population and ensuring the sustainability of social spending. He noted that simply raising the retirement age would not be an adequate solution to the impending demographic challenges.