A study has found that migrant labor from within the European Union will fall short of the economy’s needs. To plug the gap, Germany will need 146,000 workers per year from non-EU countries.
Germany needs at least 260,000 new migrant workers per year until 2060 in order to meet labor shortages caused by demographic decline, according to a study published on Tuesday.
Of that number, 146,000 people each year would need to immigrate from non-EU member states, the research published by the Bertelsmann Foundation said.
Due to an aging population, the labor force in Germany is estimated to shrink by a third, or around 16 million people, by 2060 without immigration. Absent immigration, the labor shortage could have a devastating impact on world’s fourth largest economy.
Under the calculated scenarios, the researchers assume that the birth rate is rising, more women are working and that the pension age is increased to 70.