Life Changes in Family and Productive Activities among Older Adults: Focusing on Economic Activities

Abstract

The importance of productive activities and roles in society of older adults has been recognized in the contemporary aging societies. Although existing studies have revealed that individual human capital is an important factor in the productive participation of the elderly, the influence of the family has not been systematically considered. Using data from the 2th to 6th wave of Korean Longitudinal Study of Ageing(KLoSA), this study examined the effect of the individual and family characteristics on economic activities among older adults. The results are as follows. First, as a result of analyzing all the elderly, only individual human capital characteristics had a significant effect on participation in economic activities. Second, as a result of analyzing male and female older adults separately, it was confirmed that individual characteristics and family characteristics had a significant effect on participation in economic activities. In particular, children's participation in the labor market related to the life changes of family members was an important factor influencing the economic activities of the elderly. Third, when transitioning from a state with some or all children not participating in the labor market to a state with all children participating in the labor market, it was found that male seniors are less likely to participate in economic activities while female seniors are more likely to participate in economic activities. Based on these research results, academic and policy implications were discussed.