Title: Korea’s Senior Workforce Surges to Record Highs: A Focus on Short-Term Employment and Entrepreneurship
Introduction:
In a significant shift that reflects the growing impact of demographic changes in South Korea, the country has seen a notable increase in the employment of its senior population, with those aged 60 and above comprising 22% of the total workforce, a figure that has never been higher. This trend, however, is largely confined to temporary work and livelihood-oriented entrepreneurship, indicating a nuanced approach to addressing the challenges and opportunities presented by an aging society.
Detailed Analysis:
The Ministry of Small and Medium Enterprises and the Statistics Korea released recent data indicating that from January to July, the average monthly number of employed individuals aged 60 and above stood at 639,900, accounting for 22.4% of the total workforce. This marks a substantial increase from previous years, with the share of senior workers in the labor market growing from 19.5% in 2021, to 20.4% in 2022, and 21.6% last year. The current figure exceeds 22%, representing a 4.1 times increase compared to the 5.4% recorded in the same period 40 years ago.
In the realm of entrepreneurship, the number of businesses founded by individuals aged 60 and above reached 65,000 in the first five months of the year, constituting 13.6% of the total, a record high. This stands in contrast to the overall decline in the number of entrepreneurial ventures, with the total number of startups at 476,000, showing a decrease of 1.8% compared to the same period last year. Notably, the growth in startups initiated by those aged 60 and above was 9%, marking a significant increase compared to the 22.8% growth in total startups over the last eight years.
Trends and Analysis:
The increase in senior employment and entrepreneurship is largely attributed to the country’s aging population, with 14.241 million people, or 27.8% of the total population, being 60 years or older, as of last month. Experts emphasize the need for a more proactive societal approach to leverage the work experience and entrepreneurial acumen of this age group.
Implications:
This trend has significant implications for the South Korean economy, as it seeks to balance the challenges of an aging workforce with the need for continued economic growth. The government and businesses are increasingly looking for ways to adapt and integrate senior workers into the labor market, often through temporary or flexible employment arrangements that cater to their specific needs and capabilities.
Conclusion:
While the rise in senior employment and entrepreneurship in South Korea represents a positive step towards addressing demographic challenges, the focus on short-term work and livelihood-oriented ventures highlights the need for further policy interventions and societal adjustments. These include the creation of more inclusive employment opportunities, the development of support systems for older workers, and the encouragement of entrepreneurial activities that can contribute to the economy in more sustainable ways. As South Korea continues to navigate the complexities of an aging society, the successful integration of its senior population into the workforce and entrepreneurial sector could serve as a model for other countries facing similar demographic shifts.
【source】https://cn.yna.co.kr/view/ACK20240826001300881?section=economy/index&input=rss
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