Last year, the employment rate for older adults (ages 55-64) topped 70%. It was the first time since related statistics began in 1983.
According to the Ministry of Employment and Labor (MOEL)'s "employment trends for older adults" data on Feb. 4, last year's employment rate for older adults was 70.5%. That was up 0.6 percentage points from 2024.
The employment rate for older adults surpassed 60% in 2007. It was 66.3% in 2021, 68.8% in 2022, and 69.9% in both 2023 and 2024.
Last year, the labor force participation rate for older adults was 72%. This was also a record high. The labor force participation rate includes not only the employed but also the unemployed who are looking for work.
Meanwhile, the unemployment rate fell. The unemployment rate for older adults dropped 0.3 percentage points from 2.4% in 2024 to 2.1% last year. Government-led expansion of senior jobs appears to have contributed to the decline in the unemployment rate.
Among the working-age population (ages 15-64), older adults (ages 55-64) accounted for 18.4% last year. In response, the ruling party and the government are pushing a plan to extend the statutory retirement age from the current 60 to 65. However, agreement is difficult due to differences between labor and management. Labor argues for a blanket extension of the retirement age, while management is calling for a "re-employment after retirement" approach.