Senior job seekers looking at a bulletin board containing information on job posts at a job fair held in the southeastern port city of Busan. (Yonhap)
SEOUL, Sept. 15 (Korea Bizwire) — Around 45 percent of household heads over 65 years of age engaged in wage worker earn less than 1 million won (US$717) each month, data showed Wednesday.
Statistics Korea reported that 44.6 percent of wage workers over 65 years of age make less than 1 million won in labor income each month, while 27.1 percent make between 1 and 2 million won and 28.2 percent make more than 2 million won.
Only 8.1 percent of wage-working household heads over 65 years of age, however, reported less than 1 million won per month in terms of the total household income, indicating that they earn more than 1 million won if they combine basic and national pensions and allowances sent from their family members.
Total household income includes not just the labor income from the head of the household, but also other types of income generated from businesses, properties, transfers and non-current income, as well as the income from other members of the household.
At 54.1 percent, more than half of household heads over 65 years of age held temporary job positions, while 28.1 percent held full-time jobs and 17.7 percent worked as day laborers.
Senior job seekers are on the rise due to the aging population, the rising number of seniors willing to work and the government’s public work projects.
Statistics Korea reported that as of July, there were 3.45 million people over 65 years of age who were employed, which was 9.5 percent more than the previous year.
They easily outrank the overall rate of increase (3 percent) in the number of successful job applicants over the age of 15.
The number of successful job applicants over 65 years of age has jumped by 50 percent since July 2017.
H. M. Kang (hmkang@koreabizwire.com)
