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Data Finds over 60% of Seniors Economically Active

Written: 2023-07-25 15:05:33Updated: 2023-07-25 15:18:20

Data Finds over 60% of Seniors Economically Active

Photo : YONHAP News

Over 60 percent of people between the ages of 55 and 79 are economically active while two out of three in the age group want to continue working.

According to Statistics Korea data released Tuesday, there were some 15-point-five million senior citizens in the country as of May, up by more than 40 percent from a decade ago and up two-point-five percent from the same month last year.

Nine-point-three million of them, or 60-point-two percent, were economically active, the first time the figure surpassed the 60-percent mark. This combines those who are employed and also those actively searching for jobs.

Meanwhile, the number of employed people in the age group came to nine-point-12 million, up 349-thousand on-year, with the employment rate reaching a record high of 58-point-nine percent.

Over 68 percent of seniors also hope they can continue to work, with many citing financial benefits as the reason.

Data also showed that 50-point-three percent of seniors received a pension in the past year, up zero-point-nine percentage point from a year earlier, with an monthly average of 750-thousand won, eight-point-six percent higher than last year.

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