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World Bank: Extending working hours is necessary to keep the population active

World Bank: Extending working hours is necessary to keep the population active

The chief economist of the World Bank, Indermit Gill, estimated on Monday that in the face of the increase in life expectancy, raising the retirement age was necessary to maintain the share of the working population despite its aging.

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Taking France as an example, Mr. Gill noted, “We have seen life expectancy increase by 20 years since 1950, so we should expect people to work longer.”

However, a sign of the difficulty of obtaining what he deems an acceptable necessity, “people refuse to work until another two years in spite of this increase in life expectancy by two decades.”

“We observe a slowdown in the proportion of the active population” in the total population of developed countries while maintaining this ratio makes it possible to “reduce the effects of aging on economic growth.”

“But for that to happen, someone has to make the necessary structural repairs,” Mr. Gill said.

It was finally adopted on March 20 without a vote by the National Assembly, following the use of Article 49-3 of the Constitution by Prime Minister Elizabeth Bourne. The pension reform, which provides for the reduction of the statutory retirement age from 62 to 64, is the subject of an increasingly deep protest movement. tightened for more than a week.

But President Emmanuel Macron must wait for the Constitutional Council to ratify the text before issuing the law.

Its adoption has radicalized part of the opposition to reform, with almost daily clashes between the police and certain groups of demonstrators, particularly in Paris and in some major cities.

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It also gave a boost to mobilization, between the 1.3 million, according to the police, and 3.5 million, according to the unions, who took part in the rallies across the country on Thursday 23 March.

A new mobilization day is scheduled for Tuesday, which should be celebrated, once again, with strong attendance.