Aging work force takes toll on growth

A retiree waits to receive his pension at a National Bank branch in Athens. Work force demographics are expected to take a toll on productivity in the eurozone over the next couple of decades, according to a study by the International Monetary Fund published Thursday. Apart from the declining potential support ratio, experts warn that the average age of people within the labor force will also rise, insisting that ‘frailer health and obsolete skills could reduce their productivity,’ especially in countries that can least afford it, such as Greece, Spain, Portugal, and Italy. [Reuters]