Download rasmussen_ppt_april_15

Health and the Economy: The Impact of Wellness
on Workforce Productivity in Global Markets
Report to the US Chamber of Commerce
Bruce Rasmussen
Kim Sweeny
Peter Sheehan
Victoria Institute of Strategic Economic Studies
Victoria University, Melbourne
Delivered by Professor Bruce Rasmussen
Director, Victoria Institute of Strategic Economic Studies
Washington DC April 2016
Ageing is rapidly increasing the proportion of older workers
in many countries
Some countries have
a rapidly ageing
workforce eg China
and some other
developing countries
.
Some countries, e.g.
Japan, and the
United States,
already have ‘old’
workforces.
Both types of
countries need older
experienced
workers. Therefore,
keeping older
workers healthy and
working becomes an
issue for economic
growth and
development.
Source: International Labour Organization 2016, ILOSTAT Database.
2
The proportion of older workers in developing countries
will continue to increase significantly
Countries such as
Indonesia, and
Mexico with young
workforces will
experience a rapid
in increase of
about 5 percentage
points in the
proportion of
workers aged 5064 between 2015
and 2030.`
3
Burden of disease: Non-communicable diseases (NCDs)
NCDs (cardiovascular diseases, cancer, chronic respiratory diseases, diabetes and
mental illness) are generally thought of as a challenge only for developed
economies, when in reality the disease burden of NCDs is as high among
DEVELOPING economies as developed economies.
Among the
countries surveyed,
NCDs, as measured
by years lived with
disability (YLDs) are
as high for
developing as
developed
countries.
NCDs are 86% of
the total morbidity
disease burden.
Source: Institute of Health Metrics and Evaluation (IHME) 2015, GBD Data.
4
The double challenge: Ageing and the burden of disease
The burden of NCDs
rises steeply with
age. On average the
burden at age 65 is
about 50% higher
than at age 45.
5
Productivity loss 2015
Absenteeism, presenteeism and early retirement, 2015
% GDP
Presenteeism,
that is, sick but at
work, is a far
greater cost to
productivity than
absenteeism.
Presenteeism
averages 3.3%
of GDP
compared with
1.3% for
absenteeism
and 2.4% for
early retirement
9
8
7
6
5
4
3
2
1
0
Early retirement due to ill health as % GDP
Presenteeism as % GDP
Absenteeism as % GDP
6
Over the period to 2030 most countries face rapidly increasing
economic loss due to absenteeism, presenteeism and early retirement
Key takeaways
98