Korea has the highest employment rate for people over 65. This can either be a positive sign of older people’s physical and mental ability to work, or reflect the sad reality that they have to find menial or part-time jobs to make ends meet. .
Japan’s Nihon Keizai Shimbun on Monday cited a study of G7 countries and eight other countries that showed Japan had a very high employment rate for older people last year at 25.1%, but the Korea ranked even higher with 34.1%.
Other developed economies rank much lower with the United States at 18%, Canada at 12.8%, the United Kingdom at 10.5%, Germany at 7.4% and Italy at 5 %.
A high employment rate among older people is sometimes seen as a positive sign that a country is ready to meet the challenges of an aging population such as a shrinking economically active population.
But Korea also lacks a legislative framework to protect the elderly from poverty.
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