The number of working older adults surpasses 10 million

The number of employed older adults has surpassed 10 million for the first time. According to a survey released on the 5th by the National Data Office, the number of employed older adults aged 55 to 79 last May was 10.125 million, up by 345,000 from a year earlier. The older adult population increased to 17.017 million, and the employment rate remained at 59.5%, the same as last year. By industry, the number of employed people increased in health and social welfare, and wholesale and retail trade, while it decreased in agriculture, forestry, and fisheries. 69.2% of older adults said they wanted to keep working in the future, and their desired working age was 73.6 years on average. The most common reason for wanting to keep working was to help cover living expenses, and the enjoyment of working was also cited as a major reason. However, the average monthly pension received was 880,000 won, which was below the minimum cost of living.