Why old people in Germany have such a hard time finding work

The Economist just published a special on the problem of the ageing workforce (free for all). The whole article is worth a read, but the following piece of trivia caught me in particular: Britain and Germany used to have more or less the same unemployment rate for people aged 50-65. Not any more, today (2003) the rate is 3.3% for Britain and 9.7% for Germany. And now look at what people earn: In Germany, 50-65-year-old earn 60-70% more on average than 25-30-year-old, but in Britain, it’s roughly the same!

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