The economy of Jersey is experiencing a significant, though understated, transformation driven by a profound demographic shift. New data reveals that more than a quarter of the island's employed population is now aged 55 years and above. Far from being a looming crisis, business leaders are beginning to view this change as a substantial, yet underutilised, economic opportunity.
A Silver Workforce: The Rising Numbers
Official figures released by Statistics Jersey paint a clear picture of this aging trend. At the end of December 2024, 25.3% of employed individuals were aged 55 and over. This marks a notable increase from 21.1% recorded back in 2019. The most dramatic growth was seen in the oldest working cohort: employment among those aged 65 and over surged by a staggering 51% between 2019 and 2024.
Conversely, the younger end of the spectrum is contracting. The number of workers aged between 20 and 24 fell by 16% during the same five-year period. This imbalance highlights critical questions for long-term workforce renewal but also underscores the immediate value of retaining experienced staff in a small island economy with finite labour resources.
Experience as an Economic Asset
Business consultant Kevin Keen, who has held senior roles in Jersey companies, argues that older workers are crucial for sustaining and improving the island's productivity. He points out that without their continued participation, the economy risks becoming less productive, increasing pressure for more immigration to fill jobs.
"One of the issues that the island has got is we’ve got an aging population, and when people stop working, there is a need to have more immigration to get jobs done," Keen told the BBC. "If they don’t, our economy becomes less productive." He advocates for encouraging older residents to remain economically active as a way to ease labour shortages.
Keen emphasises the immense value of their experience. "There’s a lot of experience out there, and so taking on older workers can bring a lot of experience," he said. In sectors where training is costly and errors are expensive, this deep knowledge directly translates to higher efficiency and better judgement.
Beyond Myths: Flexibility and Motivation
The advantages of an older workforce extend beyond just experience. Keen notes that many older employees offer greater flexibility, as they often do not require time off for school holidays. Furthermore, their motivation can differ significantly from younger counterparts.
"Very often they are working because they want to and not because they have to," Keen added. This voluntary engagement often results in greater commitment, reliability, and a strong work ethic—qualities highly valuable to employers.
International studies from the UK and Europe consistently debunk the myth that productivity declines with age. While physically demanding roles may have limitations, cognitive skills, problem-solving abilities, and judgement often continue to develop. For a service and knowledge-driven economy like Jersey's, these are precisely the skills that are most needed.
The Need for a Cultural Shift in Hiring
To fully harness this potential, a cultural change among employers may be necessary. Recruitment practices, job descriptions, and workplace norms are frequently unconsciously geared towards younger applicants. Experts suggest that age-inclusive hiring, flexible working hours, and options for part-time or phased retirement could help retain skilled workers for longer.
Such measures could also attract older individuals who wish to stay engaged professionally without the commitment of a full-time role. For policymakers, the data signals a need to adapt training programmes, health support systems, and workplace designs to suit a workforce that is both older and working longer.
As Jersey grapples with productivity pressures, housing constraints, and debates over immigration, its growing population of older workers represents an economic lever already within reach. The Statistics Jersey data indicates the island is moving in this direction, whether by design or necessity. The challenge now is for employers and policymakers to act swiftly to convert this demographic reality into a sustained competitive advantage. In a tight labour market, Jersey's older workers may well prove to be one of its most valuable and overlooked resources.
