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(Working Paper 2017-12/Employment and Labor Policies in Transition: Employment) How to Improve Older Workers’ Job Security and Increase Demand for Their Labor (Working Paper 2017-12/Employment and Labor Policies in Transition: Employment) How to Improve Older Workers’ Job Security and Increase Demand for Their Labor
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(Working Paper 2017-12/Employment and Labor Policies in Transition: Employment) How to Improve Older Workers’ Job Security and Increase Demand for Their Labor

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(Working Paper 2017-12/Employment and Labor Policies in Transition: Employment) How to Improve Older Workers’ Job Security and Increase Demand for Their Labor
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  • Korea’s population is aging at a pace rarely seen in other parts of the world. Average life expectancy rose by 20 years in the past 45 years, reaching 82.1 as of 2015, much higher than the OECD average and one of the highest in the world. Coupled with the ultra low birthrate that has persisted for close to one generation, it has led to the productive population beginning to shrink from this year. Korea will become an aged society next year and a super-aged society in 2026. It has been accompanied by the aging of the labor force, with the average age of the employed going from 41.1 in 2004 to 44.4 in 2015. The resulting issues like fiscal sustainability and pension fund depletion may be problems of the future, but the impact on employment is a problem of today.

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