The percentage of older people working is increasing in Europe, but is this a…

In 2023, 115,000 people aged over 65 were still working in Hungary. In 2018, the number stood at 57,000 people. The increase is therefore dramatic, notes penzcentrum.hu. Most remain active workers in production, commerce, education and health after retirement age. Of course, there is nothing wrong with someone continuing to work after retirement, even experts support this, but if people work out of compulsion, nothing good can come of it.

In Hungary, in 2023, almost 115,000 people between the ages of 65 and 74 were working, reveals the latest series of data published by the country’s national statistical office (KSH). This figure is shockingly high, especially compared to the year 2010. At that time, this number did not even reach 28,000. Therefore, it can be said that the number of Hungarians aged between 65 and 74 who continue to work has tripled in 13 years.

All this also means that, while in 2010 3.3% of the 65-74-year-old population worked, in 2023 the percentage will be 10.1%. This is by far the largest report in the last decade.

In the data analysis, KSH writes that the evolution of the number of employees in the respective age category is mainly determined by demographic processes, but participation in the labor market is influenced by the economic and social environment that influences individual decisions. The growing demand for labor has stimulated the employment of pensioners.

The increasing demand for income supplementation and exemption from the obligation to pay contributions also increased the willingness to work.

Analyzing the data, it can be observed that practically since 2015, the number of elderly workers in Hungary is continuously increasing. Every year, more and more Hungarians over the age of 65 remain on the labor market. For many of them, this can be a positive decision, as they still feel young enough to continue working. For many, however, this may be a forced decision, as their pension would not be sufficient to maintain their current lifestyle.

In Poland, every fifth employer (22%) plans to hire older people, according to a study by the Progres group cited by money.pl. That number may rise if government funding plans for companies hiring retirees and other jobseekers after the age of 60 come into effect.

There is no lack of old people willing to work. According to the SeniorApp report, within a year the number of people over 60 interested in additional work increased by 27%. They are motivated to continue their activity primarily by their financial situation, but also by legal changes.

The report indicates that in countries such as Iceland, New Zealand, Sweden, Estonia, the Netherlands, Germany, the Czech Republic, Denmark and Switzerland, the percentage of people aged 55-64 who work exceeds 74%.

In Poland, this indicator is 58.4%. Other data, published by Eurofound, show that the percentage is 56.4%. In Hungary, it amounts to 65.6%. Romania has the lowest percentage, 46.7%.