Skill Obsolescence and Lifelong Learning in the Ageing Workforce: The Effect on Job Satisfaction
摘要
Italy has rapidly aged in the past five decades. This demographic shift, along with efforts to extend working life, has led to an ageing workforce. Older workers may face declining productivity due to technological advancements and organizational changes, leading to skill obsolescence and job insecurity, especially among older workers. Promoting lifelong learning is crucial to enhance human capital and address challenges posed by technology and an ageing workforce. Job satisfaction plays a crucial role in an ageing workforce, influencing decisions such as early retirement. However, few studies have examined its determinants among older workers, particularly focusing on the role of skill obsolescence and lifelong learning. In this abstract, using data from the Italian Labour Force Survey (fourth quarter of 2021 and fourth quarter of 2022 IT-LFS) and applying OLS model we analyse the role of lifelong learning on job satisfaction among workers aged 50–74 in Italy. Preliminary results show that the participation to formal training is positively related to job satisfaction. Further analyses will include the “Skills Rate index”, which measures the hard, soft and digital skills required by various occupations and derived from online job advertisements and additional IT-LFS waves (annual data). Furthermore, we will apply the difference in difference model to evaluate the effect of training attended in the previous year on job satisfaction stratified by gender and occupation to account for potential gender and job-related differences.