##traditional data and ml applications. this year ’ s conference is jointly organized with frb, bank of canada and sveriges riksbank and it will be held in stockholm on october 3 - 5. 12 we are also collaborating with the bank of england and with the bis through the irving fisher committee to organize workshops and conferences on the topic. 13 the program is available at the link https : / / www. riksbank. se / en - gb / press - and - published / conferences / 2022 / conference - on - non - traditional - data - machine - learning - and - natural - languageprocessing - in - macroeconomics / see the ifc and bank of italy workshop on “ data science in central banking ” which was held in rome in october 2021 ( https : / / www. bis. org / ifc / events / 211019 _ ifc _ bdi. htm ) and in basel in february 2022 ( https : / / www. bis. org / ifc / events / 220214 _ ifc. htm ). to create a network and foster scientific collaboration, jointly with the frb, the sveriges riksbank, the university of pennsylvania and the imperial college of london we are also organizing a series of webinars on “ applied machine learning, economics and data science ” ( amleds ). from september to june we host a monthly webinar, where researchers working on data science and ml applied to economics and finance present their work. 14 more than 3, 000 researchers from academia, cbs, and nsos around the globe and from different disciplines are registered. finally, yet importantly, we have organized a special issue for the journal of econometrics on “ machine learning for economic policy ” jointly with the european central bank, the federal reserve board, the bank of england, the bank of canada, and the king ’ s college london. the special issue will gather a selection of papers, which use machine learning and big data for policy purposes. 6. conclusions the bank of italy is at the forefront in this area and it is firmly committed to researching these issues and to cooperating with other national and international institutions with the aim of better serving our societies. let me conclude my talk by thanking, once again, all the organizers for having me here and all participants for joining us today. so far, we have invited among others serena ng ( columbia ), francis x. die

the conversion of fixed - term contracts into permanent ones increased significantly. in many cases, however, fixed - term employment goes hand in hand with long - term precariousness, with close to 20 per cent of young people still on fixed - term contracts even after five years of employment. too many, not just the young, do not have official jobs or, if they do, are not offered adequate contractual conditions ; as in the other major countries, introducing a well - designed minimum wage system could be the response to non - trivial demands for social justice. the governor ’ s concluding remarks annual report 2022 banca d ’ italia raising incomes and creating better employment opportunities requires an improvement in the quality and capacity of production for the entire economic system, which is all the more necessary today in light of the ongoing demographic changes. in the coming decades, world population dynamics will continue to be highly unbalanced, with strong growth in the developing countries on the one hand and weak, or negative, growth in the advanced countries on the other hand ; among the latter, italy has one of the fastest ageing populations. in just three years, since 2019, the number of people conventionally defined as being of working age ( 15 to 64 years old ) has fallen by nearly 800, 000 units. based on istat ’ s demographic projections, by the year 2040, italy ’ s resident population will decline by 2. 5 million in the central scenario, and that of people between the age of 15 and 64 by more than 6 million ( figure 10 ). the improvement in the life and health conditions achieved in the past decades will allow quite a few people to work past the traditional retirement age of 64, in line with the current trends that are also reflected in the pension reforms. we will certainly need to create more jobs for young people and women, whose participation rates across the country are very low, with italy ’ s south and islands accounting for the lowest rates in europe. even in the best case scenario where the participation rates of young people and women rise progressively to catch up with the eu average, in the next twenty years, economic growth will not be able to rely on the endogenous expansion of the labour force : the effects of the decrease in the population in the central age groups may be mitigated in the medium term, besides by an extension of the working age, only by an increase in net migration ( which in istat ’ s baseline scenario is projected to amount to 135,