Portugal will lose 1.4 million workers by 2080

Portugal is projected to see a decrease of approximately 1.4 million employed individuals over the next 55 years, according to the European Commission's "Ageing Report 2027." Currently, around 5.3 million people are employed in the country, which is expected to drop to 3.88 million by 2080. The legal retirement age is anticipated to rise to 69.7 years, with only six EU countries having a similar or higher retirement age. The average exit age from the labor market is expected to increase from 65 to 67 years and 4 months by 2080. Despite an increase in workforce participation among older workers and women, this will only partially offset the decline in the working-age population. The EU's workforce is projected to decrease by 17%, totaling 36 million fewer people by 2080.