Demographic researchers have found that an important trend reversal has set in on the German labor market. A leading think tank has said there were now more older people employed than in early retirement.
For the first time in almost four decades, there were more people in employment in the 60 to 65-year age group in Germany than their peers in early retirement, the Federal Institute for Population Research (BiB) reported Wednesday.
It said that towards the end of last year 42 percent of people in this bracket pursued a regular job, compared with 40 percent of people already pensioned off.
The researchers said such a situation was last witnessed in the country back in 1974. Since then, the proportion of those in employment has gradually sunk . In 2000, almost two thirds of people aged between 60 and 65 were already in retirement.
Live longer, work longer
"The new trend comes on the back of incentives for early retirement having been drastically reduced by the government," BiB expert Harun Sulak said in a statement.
He also mentioned older employees' rising qualification levels and a generally robust economic framework, making it easier for people past the age of 60 to either keep their jobs or find new employment.
Sulak maintained the current trend would continue as people's life expectancy was on the rise and with the official retirement age having been raised from 65 to 67.
hg/hc (dpa, AFP)