Economics

ECB Sees Ukraine Refugees Lifting Workforce by Up to 1.3 Million

The euro area was already battling a rapidly aging population that has shrunk its share of working-age people. — The euro area was already battling a rapidly aging population that has shrunk its share of working-age people.
Photographer: Krisztian Bocsi/Bloomberg

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By Carolynn Look

June 20, 2022 at 8:44 AM UTC

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Refugees fleeing the war in Ukraine could end up boosting the euro area’s active labor force by up to 1.3 million people, the European Central Bank predicts.