Economic Activity and Economic Status of Older Persons

Abstract

This study examined the changes in economic activity and economic level of older persons over the past 10 years using the National Survey of Older Koreans. From 2011 to 2020, the participation rate in economic activity increased and the economic status improved. In addition, it was found that the current job quality of older persons - occupational status, job satisfaction, wage level, etc. - changed positively, and the economic status of older persons within the household increased. Nevertheless, given that the poverty rate of older persons in Korea is still high, continuous policy considerations are needed to improve the economic status of older persons. It is necessary to increase policy interest in the future in that supporting older persons in their economic activities can not only improve the income level but also satisfy their desire to participate in society.