Changes in the working behavior of the older population in 2018-2023

V. Lyashok
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V. Lyashok: Centre "Institute for Social Analysis and Prediction", RANEPA, Moscow, Russia

Journal of the New Economic Association, 2024, vol. 65, issue 4, 276-283

Abstract: Based on the data from the labor force survey, the article analyzes how the older population changed its behavior in the Russian labor market over the past few years. It is shown that since 2018, the level of participation in the labor force increased significantly, primarily for 60-64-year-old men - by 16.9 percentage points, and for 55-59-year-old women - by 17.0 percentage points. As a result, the average age of exit from the labor market increased by 2-3 years over the same period. As a result, only due to the growth of economic activity in older ages, the number of workers increased by 2.5 million people over the period 2018-2023, which is a significant increase against a growing shortage of labor. Such changes were apparently caused by a complex of reasons. The most significant factor was the pension reform of 2018, which postponed the retirement age for most categories of the working population in Russia. Another consequence of such a reform was an increase in the share of disability pensioners, largely caused by the peculiarities of Russian pension legislation. Another important factor was the shortage of labor, which forced employers to retain older workers at enterprises. Finally, the COVID-19 pandemic could have a certain effect.

Keywords: labor force; labor shortage; raising the retirement age; employment of older people; unemployment; average age of exit from the labor market (search for similar items in EconPapers)
JEL-codes: J14 J26 (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:nea:journl:y:2024:i:65:p:276-283

DOI: 10.31737/22212264_2024_4_276-283

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