Nearly a quarter of South Korean men over 75 are still in the labor force, as are 14 percent of Japanese men. In the United States, a 10th of such men are working or seeking work, compared with half of 1 percent in France.
Put another way, a Korean man over 75 is more likely to be working than a Frenchman in his early 60s.
There is more here.
Options:
1. Older Koreans are healthier?
2. In Korea, for labor: Demand >> Supply. Even 75-year olds are employable?
3. Korea has very bad old-age-pensions?
4. Korean men are poor savers?
5. There isn't as much fun stuff to do for oldies in Korea?
Any (AND / OR) of the above…..?? Now I go and read the article……
In Japan, and presumably also in Korea, "life-time" employment is only until age 55.
At that age people "retire" from their life-time job and go to work in the other economy where wages and benefits are much lower. So they need to save for retirement before age 55 when most Japanese experience a major drop in their standard of living.
That shows how screwed up the economies are in South Korea and Japan. It also helps to explain chronic unemployment problems in Japan.
Nearly a quarter of Japanese men over 100 are still alive.
"Nearly a quarter of Japanese men over 100 are still alive."
lol. i hope this was a joke.
K says "raising the retirement age will raise unemployment." Is this because there is a fixed amount of Work? Why not make a law that everyone must retire — except Bob. Bob will have a job, so there will be full employment.
K's view must be popular in France. A few years back the French were using their police (more jobs!) to seek out and FINE people who worked more than a prescribed amount in a given week.
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