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For central banks, rich countries will need foreign workers to fuel their growth

Therefore,

Central banks, rich countries will:

Ultimately, the big savings will lack arms. For example, This observation. Consequently, relayed by the Financial Timesemanates from the annual meeting of the main central banks held in Jackson Hole, in Wyoming.

According to decision -makers. Therefore, these countries will have trouble “stimulating growth and maintaining prices stability in the coming decades, unless they attract more foreigners,” writes the British reference daily.

The aging of the population is a major economic issue. Therefore, raised by several stakeholders present during this conference of central bankers. For example, Kazuo Ueda. In addition, the director of the Bank of Japan, country with the particularly aging population, said that the shortage of labor is now one of its “most urgent” economic problems, reports the FT. Foreign workers represent only 3% of the workforce in Japan, but it is growing rapidly.

Read also: Ivan Slatkine: “If we close the central banks, rich countries will door to foreign labor, we will talk about retirement at 78 years old!”

A favorable situation thanks to immigration

The low birth rate in Western economies also worry the owner of. the European Central Bank. According to Christine Lagarde. an influx of labor forces from abroad would have “a crucial role” to counterbalance the decrease in the share of the active population. Without the influx of foreign workers, the euro zone would have in 2040 some 3.4 million people of less working age, she said, continues the FT. According to Christine Lagarde. the “surprisingly favorable situation” of the European economy after the pandemic is largely due to these foreign workers, who represented only 9% of the workforce in 2022, but “have contributed half to its growth in the past three years”.

In Switzerland. according to a study by the National Bank, mentioned by the NZZ last July, it could come central banks, rich countries will to miss some 400,000 active in 10 years. Another assessment carried out at the end of 2024 by Economiesuisse. the employers’ union, even quoted 460,000 the need for additional workers in 2035.

Read also: Switzerland recruits ever more qualified profiles. will have to fight to stay attractive

The Financial Times Also quotes the governor of the Bank of England, Andrew Bailey, present at Jackson Hole, who estimates that by 2040, only 60% of the British population will have between 16 and 64 years. For him. the aging of the population will not only lead to a drop in production, but also risks raising inflation, because workers could demand higher wages in a context of generalized labor shortage.

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Central banks, rich countries will

Further reading: Economic slowdown: Manac proceeds to 114 preventive layoffs“We have never seen that”: the dizzying fall of 50 % of Russian oil and gas exports shatters the world economyIncrease in view in Europe after inflation in the United States – 08/13/2025 at 08:17Backend Ruby Senior developer (80-100%)more than 6 million people use Twint.

piper.hayes
piper.hayes
Piper’s Chicago crime-beat podcasts feel like late-night diner chats—complete with clinking coffee cups.
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