Elderly unemployment jumps after 2008 financial crisis
By Korea HeraldPublished : Jan. 22, 2013 - 19:41
According to data compiled by the Korea Institute of Finance, the unemployment rate in the age group reached 2 percent last year.
The figure had remained at the 1 percent mark until 2008. But it rose to break the 2 percent barrier and registered 2.4 percent in 2010.
“Due to a lack of preparations for post-retirement life, more senior citizens are searching for career opportunities,” Park Jong-kyu, a KIF researcher, told Yonhap News. “However, there are insufficient jobs for them.”
By Chung Joo-won (joowonc@heraldcorp.com)
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Articles by Korea Herald