By Organization for Economic Cooperation &
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Additional resources for Korea (Ageing and Employment Policies)
THE CURRENT LABOUR MARKET SITUATION compositional changes. For instance, average job tenure will decline by more if it is workers with the longest job tenure who retire first than in the opposite case. g. in the case of an establishment survey of regular workers, they switch to a daily job or become self-employed. Thus, the drop in average job tenure may be understated as the shorter or zero years of tenure of these (former) workers is not taken into account. 12 B. 6). Typically, they are low for younger workers, since they change jobs relatively frequently or “job shop” while making the transition from school to work, and then rise with age as workers become more settled in their careers.
There will also be fewer children to support. The total dependency ratio takes this factor into account since it is defined as the ratio of the combined over the next few decades but will level off at a relatively low level in 2030 at around 38%. However, the ratio for Japan is expected to keep increasing from its already high level during the next five decades to about 72% in 2050, which is nearly three times higher than the current level of 28%. AGEING AND EMPLOYMENT POLICIES: KOREA – ISBN-92-64-01737-2 © OECD 2004 34 – CHAPTER 1.
Thus, by 2050 the population of non-working age will almost be as large as the population of working age. 3. 3. Population projections by broad age group for Korea, 2000-2050 Index 2000=100 500 450 65+ 400 350 300 250 50-64 200 150 25-49 100 <24 50 0 2000 2005 2010 2015 2020 2025 2030 2035 2040 2045 2050 Source: National population projections (medium variant) from KNSO (2001). Korea’s ageing population is reflected in the strong growth projected for the group aged 65 and over. By 2050 this group will be four-and-a-half times larger than in 2000.
Korea (Ageing and Employment Policies) by Organization for Economic Cooperation &
Categories: Labor Industrial Relations