More seniors working in South Korea, stats show

By On July 24, 2018

More seniors working in South Korea, stats show

SEOUL, July 24 (UPI) -- The number of workers aged 65 and older has been increasing in South Korea, according to a government figure on Tuesday.

Thirty-eight percent of elderly men and women in the 65-79 age group were employed as of May, a 1 percent increase from the same month last year. Of those employed, 36 percent work in low-skilled occupations, according to a figure on senior economic activities by Statistics Korea.

The number of the population aged from 55 to 79 is more than 13,441,000 this year, a 4 percent increase from 2017. The statistics office says the elderly population starts at age 55.

Among the senior workers, 67 percent are men and 44 percent are women.

Two thirds of workers in the 55-64 age group said they retired at an average age of 49. Women retire at 47 and men work until 51, on average.

The average working years were 15 years and 5 months. Half of the retired women said they worked under 10 years, while more than half of men said they worked more than 20 years.

Thirty-two percent of them had to quit their jobs because of business closure or downturn in business.

Source: Google News South Korea | Netizen 24 South Korea

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