On October 11 last year, seniors were participating in job-seeking activities at the ‘2023 Senior Job Fair’ held at Hwaseong Palace in Paldal-gu, Suwon, Gyeonggi Province. According to employment administration statistics from the Ministry of Employment and Labor on April 2, the number of unemployment benefit recipients in April was 683,250, with those aged 60-69 accounting for the largest proportion at 192,369 (28.3%). Including individuals aged 70 and above, 29.5% (208,202) of all benefit recipients were aged 60 and above.
Unemployment benefits are provided from the employment insurance fund to insured workers and self-employed individuals who are unemployed to support their livelihood and job-seeking activities. The proportion of those aged 60 and above among unemployment benefit recipients has been increasing rapidly due to the aging population and the rise of elderly poverty. In 2014, individuals aged 60 and above accounted for only 13.4% of benefit recipients, but this had increased to around 25.1% last year. The proportion of elderly recipients has more than doubled over the past decade.
The increase in elderly recipients of unemployment benefits is attributed to the aging population and the growing number of elderly individuals working past the age of 60 due to elderly poverty. Despite a decrease in employment insurance beneficiaries among individuals in their 20s and 40s, the number of insured individuals aged 60 and above has continued to rise significantly, making up 16.7% of all insured individuals as of April. The higher proportion of elderly recipients within the unemployed population than among insured individuals is explained by the fact that many elderly individuals work in relatively unstable jobs such as non-regular positions, leading to frequent layoffs and increased unemployment benefit claims.
To address elderly poverty and ensure a stable labor supply, there is a call to enhance the job stability and quality of jobs for elderly workers. Statistics show that among all wage workers as of August last year, the proportion of non-regular workers was 37.0%, but among workers aged 60 and above, 68.7% were in non-regular positions.
Therefore, there is a need for continuous policy efforts to provide stable employment opportunities where elderly workers can utilize their skills effectively. Yoon Jung-hye, a former researcher at the Korea Employment Information Service, emphasized the importance of creating policies that enable elderly individuals to work in stable jobs where they can fully utilize their potential, especially in a situation where there is a declining workforce due to low birth rates.