1. Human Capital and Ageing Clare Ward Deputy Government Statistician, Statistics New Zealand Paris, 28 June 2012 June 2012

2. OECD Framework for Measuring Well-Being and Progress 2 Quality of Life Material Living Conditions Individual Well-Being (Today) Sustainability of Well-Being Over Time Economic Capital Human Capital Social Capital Sustainability of Well-Being Over Time Economic Capital Human Capital Social Capital

3. My Three Points Human capital is a critical dimension of sustainable development so we can’t ignore it Customer needs should drive our statistical development agenda Given its importance, it’s a case of how we measure human capital, not if we do 3

4. Simplified Model 4 Stock of Human Capital Entrants Exits From education Immigration Fertility Retirement Emigration Mortality Health; Education and Training; Labour Market; Retirement; Social Assistance; Immigration & Emigration; Justice Employer, employee, provider attitudes and expectations

5. My Three Points 5 Human capital is a critical dimension of sustainable development so we can’t ignore it Customer needs should drive our statistical development agenda Given its importance, it’s a case of how we measure human capital, not if we do

6. Varied Policy Drivers for Human Capital Measurement Social Policy Standard of Living Well-being Equity, literacy and social mobility Individual life- cycle decisions Economic Policy Economic growth and productivity Innovation and knowledge transfer Labour Market Returns for Skills Mismatches between and demand for and supply of skills Sustainability of the human capital stock Current stock and change over time Impact on National Accounts Impact of demographic changes e.g. ageing Migration Impact of immigration and emigration on stock of human capital Education Effectiveness of education policy Education output and productivity 6 Source: Policy drivers for human capital measurement in New Zealand. CES June 2011

7. My Three Points 7 Human capital is a critical dimension of sustainable development so we can’t ignore it Customer needs should drive our statistical development agenda Given its importance, it’s a case of how we measure human capital, not if we do

8. Questions What are the priorities in the measurement of human capital What opportunities exist? What are the main challenges we face? Quick wins? Longer-term work? What are our key messages for the Delhi conference? 8