“Who will hire me at my age?” This concern rings true for many middle-aged people who are job hunting or contemplating a career change. The outlook isn’t promising. In Spain, more than 800,000 people over 50 are unemployed, accounting for about 30% of total unemployment. This figure has nearly doubled in the last decade. In 2013, the unemployment rate for this age group stood at 18%. Latest figures from the National Institute of Statistics (INE) show that more than half of long-term unemployed people in Spain and across the European Union are aged 50 to 59.
“Companies do not see the potential of senior talent and the contributions their experience can bring,” says Manel Fernandez Jaria, professor of Economics and Business Administration at the Open University of Catalonia (UOC). The educator argues for a cultural shift in firms that values recruiting such talent. If it isn’t done out of principle, it will be done out of necessity as society grays. The majority of Spain’s population is aged 40 to 59, and older workers are shaping the near future of the workforce, potentially to an extent equal to or greater than younger generations.
Veterans are workers whose aging is evident. They won’t retire soon: the average retirement age is 65. But eligibility rules mean that only those who have paid premiums for 37 years and 9 months can retire with a full pension. Otherwise, the official retirement age is 66 years and 4 months, provided that 36.5 years of contributions have been paid.
The system is moving toward longer working lives. The INE’s 2022-2072 Population Projections show that almost one third of Spain’s population will be over 60 by 2030. Consequently, the retirement age has not risen since 2013. In the coming years, the threshold will be 66.5 years, and to retire at 65, 38 years of contributions will be required. By 2027, the trend will push for 37 years of contributions to retire at 67 and 38.5 years to retire at 65, continuing into the following years.
Forgotten by law
If Spain remains the EU country with the highest rate of elderly unemployment, many older workers will struggle to contribute enough to secure a decent pension. The employability of older workers in Spain trails the EU average by about ten points, and Adecco notes a growing focus on senior talent through its 2022 report. The expectation of older workers is to perform at the same level as younger colleagues, regardless of physical demands. Dey No. 31/1995 on occupational risk prevention scarcely acknowledges senior workers, says the professor. The law allows for job adaptation for different groups, yet the elderly often feel overlooked. One conclusion: a 65-year-old may still work as a mason on a construction site.
In summary, unemployment concentrates among the extremes of the population pyramid: the elderly and the young. These two groups are far apart in some respects, yet should collaborate rather than compete. Adecco professionals highlight that older workers do not take jobs from younger ones; they fill roles that younger people cannot, due to education gaps, experience, and numbers.
Juan Pablo Riesgo, partner in charge of EY Insights Knowledge Centre, argues that increasing senior participation creates more value in the economy and fuels growth. This demand will benefit workers of all ages, including younger ones.
Growing since 2008
Senior employment in Europe has risen every year since 2008 because of aging demographics and longer working life. Most employed seniors are between 55 and 59; after 60, the rate declines sharply, becoming insignificant between 65 and 69. Across regions, those with secondary education are gaining ground, and salaried workers outnumber the self-employed, except that veteran workers show stronger self-employment growth than other age groups. Inaki Ortega, author of The Gray Hair Revolution, notes that after 60, many find self-employment the main option to remain in the labor market. He points out that there are about one million self-employed seniors versus 200,000 self-employed youths.
Older individuals who hire others sometimes withdraw from the labor market, and their enterprises tend to create more jobs than those led by younger people. BBVA Research, analyzing OECD countries, suggests that higher activity by older workers correlates with lower youth unemployment. Iceland exemplifies this: in the early 2000s youth unemployment was half Spain’s and the elderly had higher activity rates.
Given this landscape, many policies help firms adapt to this new reality. EY advocates using technology to ease the movement of older workers, promoting remote work and substituting travel with video conferences. They also suggest flexible check-in/check-out times, time banks, compressed hours on Fridays, and easier shift swapping among workers.
Beyond that, EY calls for new professional career models that leverage older workers’ experiences in roles outside the executive track. They propose mentoring younger staff, letting seniors guide the next generation using their knowledge and expertise.
What about administrations?
Governments also play a role. EY Insights’ management recommends incentives to retain senior staff, preserves programs for knowledge transfer to younger workers, and encourages longer-term careers that persist beyond the official retirement age. Mapfre points to the need for laws that treat retirement as a right and enable voluntary work beyond retirement. Spain’s path may take longer than some EU peers due to comparative delays with countries like Sweden and Germany.
Employers are adopting solutions. The startup Conpymes, founded in 2021, advocates blind CVs to remove bias based on age, gender, or appearance. It also calls for ending opaque algorithms used by recruitment platforms that discriminate against seniors. Data from Conpymes indicates that senior candidates face an extremely high likelihood of being filtered out due to age discrimination. The Royal Spanish Academy notes that age discrimination underpins a significant share of unemployment benefits paid by the government. This issue contributes to a national economy where 5% of GDP is lost each year due to discrimination, according to conflicts highlighted by Conpymes’ leaders.
CEOE reports ongoing collaboration with EAE Business School to identify in-demand senior skills and to support opportunities for people over 50 through a dedicated commission that monitors awareness and progress in this field.
A CaixaBank study indicates that 64 percent of older people perceive prejudices against them in Spain. They want greater value placed on senior talent and experience, and they report a lack of senior role models to inspire ongoing activity at work. Yet 66 percent feel able to contribute as professionals who can advise others. Improving digital skills remains the central challenge for many of these workers.
The biggest handicap: technology
Digital prowess is often perceived as a younger trait. Seniors risk obsolescence unless they stay current with new technologies. EY highlights the need for ongoing retraining and upskilling to keep pace with digital demand. Some observers note that younger workers appear more attractive, but seniors offer flexibility, broad networks, demonstrated leadership, and loyalty that can benefit organizations. Rotation in companies is common in younger cohorts, but studies show that voluntary departures occur more among younger workers than older ones.
Spanish senior workers emphasize lifelong education as a priority. They caution that accepting a higher official retirement age is not economically sustainable and can harm physical and emotional health, according to Mapfre experts.