New Zealanders extending their working life

New Zealanders extending their working life

Older New Zealanders are extending their working life, and a growing proportion is continuing in employment beyond the age of entitlement for New Zealand Superannuation (65 years), Statistics New Zealand said today.

According to the report, Labour Force Participation of New Zealanders Aged 65 Years and Over, 1986–2006, the number of people aged 65 years and over in the labour force increased from 22,000 in 1986 to 82,000 in 2006 – a rise of 278
percent.

By 2006, 17 percent (or one in six) of older New Zealanders were in the labour force. Except for Japan, this proportion is the highest labour force participation rate among OECD nations.

Among the youngest superannuitants (aged 65–69 years), 43 percent of men and 25 percent of women were working.

A buoyant economy, growth of service industry, skill shortages, advances in life expectancy, and increased opportunities for part-time or contractual work, have been among the contributing factors.

Part-time work is popular among older New Zealanders. In 2006, 66 percent of older women and 43 percent of older men in the labour force were working part time.

Similarly, education seems to enhance the prospects of working beyond the age of 65 years.

Among older men, one in three with a university education was employed, compared with one in five with no qualification. Ethnic differences are also marked. In 2006, older Māori had a much higher labour force participation rate (24 percent) than their European counterparts (17 percent)

Dallas Welch (Mrs)
Acting Government Statistician
20 February 2009

END

See also Labour Force Participation of New Zealanders Aged 65 Years and Over, 1986–2006.