장년층 경제활동참여 특성과 유형

Abstract

The purpose of this paper is to evaluate the characteristics of labor force participation for the elderly and to classify them based on their career path. The classification of the elderly would have a significant implication under the circumstance of aging society. As well known, aging society has been pointed as main causes of the labor shortage and skill depletion. Therefore, searching for the marginal group out of any elderly labor force who could enter or reenter the labor market would give us an blue print to establish both efficient and effective labor policies. If there is ex ante concern on finding the policy target, the public employment service targeting all of the elder workers would cause serious inefficiency of government budget and no one could assure the effectiveness of the government intervention into the labor market. For this analysis, we made use of the Korean Longitudinal Study of Ageing(KLoSA), collected by the Korean Employment Information Service and utilize logistic model, event sequential analysis and some panel models. It is found that the elderly with higher education tend to have higher probability to retire the labor market earlier compared to the less educated. This result seems that the high educated groups could accumulate their wage premium in the labor market. From the event sequential analysis, we classify the elderly by four groups: group with staying in the labor market permanently, groups that reenter the labor market, retired group and non-labor force. Among these group, policy target could be the group that reenter the labor market and (seemingly) retired group. In the case of groups that reentered the labor market, the government would stimulate them to have a job faster and to match with more decent jobs. It is because better job matching would lead the elderly workers to longer contract with their employers. Furthermore, the government need to establish better policy measures for the retired group who might come back to the labor market for the expended life span. As population is aging, the government could not ignore the depletion of the public pension system. In this case, letting the elderly workers who has willingness to support themselves could be a reliable option to save the public pension system and future government budget.