Breaking News

China Handles their Aging Boomers by Raising Retirement Age
Download PDF
1 Star2 Stars3 Stars4 Stars5 Stars (No Ratings Yet)
Loading...

Bingo and Casinos? Not yet. Just past middle aged chinese will have to shoulder the burden of being the majority-share of the workforce in the economy for a few years longer. Retirement age is on the rise. As the workforce in China continues on its trend and carries on shrinking, policy makers there have raised the retirement age for the first time in over fifty years. A smaller workforce invariably correlates to slower economic growth- to prevent this, older people will work longer.

Hu Xiaoyi is the viceminister of human resources and social security. He comments that the retirement age will simply and gradually rise, according to Bloomberg.

  
What
Where


The current retiring age in China is 50 for women and 60 for men. It is expected that the ages will increase by five years for both sexes, according to economic analysts that were surveyed by Bloomberg.

As labor shortages are a main concern relative to the after affects of the one-child policy, the retirement age delay is considered one tool that could possible drive growth. The same population control measure has been a part of a reform, and the strictness of the family law has been eased.

The size of the labor force is always a concern for a sizable population in an emerging market, or a slow growth population in the mature economies.

Get JD Journal in Your Mail

Subscribe to our FREE daily news alerts and get the latest updates on the most happening events in the legal, business, and celebrity world. You also get your daily dose of humor and entertainment!!




Almost 4 million people retired form the labor force last year. Keeping the pressure on economic growth will definitely require every pair of hands to be grinding the stone- there is no rest in the near future.

Image Credit: theworldofchinese.com





 

Interesting Legal Sites You May Like


BCG FEATURED JOB

Locations:

Keyword:



Search Now

Mid-level Litigation Attorney

USA-CA-San Francisco

San Francisco office is seeking a mid-level litigation attorney with experience taking/defending dep...

Apply Now

Trust and Estate Attorney

USA-NY-New York City

Boutique trust and estate firm is seeking an attorney with 7+ years of experience. Candidate should ...

Apply Now

Mid-level Litigation Attorney

USA-CA-San Francisco

San Francisco office is seeking a support attorney with some experience/familiarity with a litigatio...

Apply Now

In House Counsel with Transactional Energy Experience

USA-NY-New York City

New York City company is seeking an in house counsel with knowledge of the oil / energy industry. Ca...

Apply Now

RELEVANT JOBS

Litigation paralegal

USA-TX-Dallas

We are looking to immediately hire a responsible, highly organized, self-motivated litigation parale...

Apply now

Attorney

USA-TX-Dallas

Associate Attorney – 7 to 10 Years’ Experience - Dallas/Fort Worth   ...

Apply now

Associate Attorney

USA-TX-Dallas

Associate Attorney – 3 to 5 Years’ Experience - Dallas/Fort Worth   ...

Apply now

Litigation Attorney

USA-TX-Dallas

Litigation Attorney   Dallas, TX One of Texas\' largest Personal Injury Law Firms se...

Apply now

SEARCH IN ARCHIVE

To Top