Taiwan hires fewer workers aged 50 and above
Taiwan’s labour participation rate of people aged 50 and above is significantly lower than that of Japan, South Korea and the US, despite an annual rise in the participation rate of such workers over the past decade, said the Directorate-General of Budget, Accounting and Statistics (DGBAS).
In 2019, the labour participation rate for those aged 45 to 49 in Japan was 88.5%, followed by Taiwan, at 84.7%; the US, at 83%; and South Korea at 81.1%, said DGBAS’ Department of Census Deputy Director Chen Hui-hsin, according to Taipei Times.
By 2025, Taiwan is projected to become a super-aged society, and its rapidly ageing population has already created gaps in the workforce, said the government agency.
To boost the labour participation rate for older workers, the Ministry of Labor has since rolled out an act to provide economic incentives to business owners who hire older workers.
The act prohibits employers from discriminating against older people when hiring or evaluating their performance, and prohibits differential treatment, such as salary levels or company benefits, based on a person’s age.
Employers who hire unemployed people aged 45 to 65 could also qualify for a monthly subsidy of NT$13,000 (US$461) per person for 12 months.