Saturday, May 14, 2011

South Korea: 50+ Now Account for One-Third of Workforce

News reports state that, according to Statistics Korea, the number of workers in South Korea over 50 grew to more than 8 million for the first time in April, amounting to approximately one-third of the workforce. This amounts to an 11% increase from the previous year and about two-fold increase from 20 years ago.

Ten years ago, people in their 30's accounted for 28.6% of the workforce, followed by those in their 40's (25.8%), 20's (20.7%), 50's (13.7%), and those over 60 (9.6%). The current figures have those in their 40's following the 50 plus at 27.3%, followed by those in their 30's (23.9%), 50's (20.9%), and 20's (15%).

Sources: Arirang "Korea's Workforce is Getting Older" (May 12, 2011); Chosunilbo "One-Third of Workers Are Over 50" (May 13, 2011)

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