Research suggests elderly remain in labor market longer
BANGKOK, 15th August 2018 (NNT) - The Bank of Thailand (BoT) has presented the findings of its research on the effects of an aging society on the Thai labor market. The research suggests that the elderly should be motivated to continue working in the system.
The research finds that it has taken only 20 years for Thailand to become an aging society but it will take almost 100 years for developed countries to fully transition into aging societies. Moreover, Thailand's preparations have not yet standardized enough compared with countries such as Singapore and Japan. These countries have established centers to give advice to aging workers.
Many Thai workers left the labor market when they were around 45 years old. Most of them are women.
The research also suggests that the country's policy on an aging society should focus on lifelong skill development and better working flexibility due to senior citizens' limitations. Furthermore, attractive remuneration should be offered to them in order to motivate them to remain in the labor market.
National News Bureau Of Thailand | Research suggests elderly remain in labor market longer
