As South Korea’s society rapidly ages, the employment rate of older adults, aged 55–64, last year surpassed 70% for the first time since statistical records began.

According to the Ministry of Employment and Labor’s “Trends in Older Adult Employment” data released on the 4th, the employment rate for older adults last year was 70.5%, exceeding 70% for the first time since related statistics began in 1983. This marks a slight increase from the previous year’s 69.9%. The statistic defines those aged 55–64 who are employed as “older adult employment.”

The employment rate for older adults has steadily risen since surpassing 60% in 2007 due to the aging population. In 2013, it entered the mid-60% range at 64.4%, and by 2022, it reached 68.8%, climbing into the late 60% range. Last year, the labor force participation rate for older adults also hit a record high of 72.0%. The labor force participation rate includes not only employed individuals but also those actively seeking work.

The proportion of older adults, aged 55–64, among the working-age population (15–64) was recorded at 18.4% last year. This means approximately one in five people aged 15 or older is an older adult. The unemployment rate for older adults has also been declining. It dropped by 0.3 percentage points from 2.4% in 2024 to 2.1% last year, gradually decreasing since 2021 (3.3%). However, criticisms persist that job opportunities for older adults lack quality, with a high proportion of temporary or daily work positions.

The Ministry of Employment and Labor stated, “The sequential retirement of the second baby boomer generation (born between 1964 and 1974) has raised concerns about a shortage in the economically active population.” The second baby boomer generation comprises approximately 9.54 million people, accounting for 18.6% of South Korea’s total population.

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