01/04/1999

Accommodating the Supply of Job Seekers Aged 65 and Above

Nobuo Ono 

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Introduction

The baby boomers who entered the labor force in the 1960s, became loyal "company people," and powered the Japanese economic miracle are in their 50s today. Now they are making their mark in another way -by accelerating the aging of the population as a whole.

Massive readjustments are being required of the nation's social security programs including pensions and health insurance. The baby boomers themselves appear apprehensive about life after retirement. One of their top concerns, close behind the health of their family and themselves, is for their financial well being in retirement (Figure 1).

This paper first looks at the factors causing financial anxiety among persons in their 50s, and then examines whether we need to enhance the financial security of persons 65 and above by creating jobs, and if so, how to go about it.

 

Nobuo Ono

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