Europe is simultaneously in desperate need of workers and determined to keep more people out, with its Migration and Asylum Pact taking full effect on June 12. That contradiction sits at the heart of one of the continent's most politically charged debates, and it is becoming harder to ignore.
With unemployment at historic lows and employment rates at record highs, EU labour markets are running on empty. Structural shortages plague healthcare, construction, agriculture, transport and tech sectors. And the cause is no mystery: Europe is ageing rapidly. In 2022, roughly 22 per cent of the EU's population was aged 65 or older. The working-age population is shrinking, particularly in Germany, Italy and Central and Eastern Europe.
