Employment Among Seniors Soars to Nearly 6.75 Million
Surpasses 50s for First Time Since 1982
Impact on Discussions of Extending Retirement Age, “[Sejong = Edaily Reporter Kim Mi-young] Last month, the number of employed individuals aged 60 and over ranked first among all age groups. This is the first time since the relevant statistics were compiled in 1982 that employment among those in their 60s has surpassed those in their 50s. As a result, it is expected that discussions related to extending the retirement age and continuous employment will accelerate.”,
According to Statistics Korea and the Ministry of SMEs and Startups on the 22nd, the number of employed people aged 60 and over in September reached a record high of 6.749 million, an increase of 272,000 compared to the same month last year.
Following that, there were 6.72 million employed in their 50s, 6.191 million in their 40s, 5.473 million in their 30s, 3.569 million in their 20s, and 142,000 in the 15-19 age group.
Last month, the proportion of those aged 60 and over among all employed individuals was also at a record high of 23.4%, surpassing the share of those in their 50s to rank first among all age groups. The proportion of those aged 60 and over first exceeded 20% in May 2021 at 20.2%, fluctuated, and surpassed 23% in May of this year (23.1%), increasing again last month.
The proportion of employed individuals by age group was as follows: 60 and over (23.4%), 50s (23.3%), 40s (21.5%), 30s (19.0%), 20s (12.4%), and 15-19 years (0.5%).
In July 1982, when related statistics were first compiled, the proportion of employed individuals aged 60 and over was only 6.0%, just a quarter of those in their 20s (26.8%). The proportion of those in their 50s was more than double that of those in their 60s at 13.9%, but it has reversed over the past 40 years.
This trend is likely to impact future discussions on extending the retirement age and continuous employment due to the effects of an aging population. In fact, the Ministry of the Interior and Safety recently decided to extend the retirement age for public employees, including those in affiliated organizations, from 60 to up to 65 years.