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Retired people are increasingly engaging in the labor market, filling the gap left by young people who have emigrated.
INSTAT data shows that year after year the over 65 age group is increasing its participation in the labor market and employment rate.
In 2024, the employment rate for people over 65 reached 25.0%, up from just 17.6% in 2023. This represents a significant increase of 7.4 percentage points in just one year.
Part of this increase is explained by life expectancy, but also by the economic need to stay longer in the labor market due to low pensions and the lack of sufficient savings for old age.
The increase in the employment rate for retirees from 2023 to 2024 is greater than in all other age group categories.
For example, with the active age group 15-64 years old, which in 2024 has an employment rate of 68.6% with an increase of only 1.7 percentage points.
Also, the employment rate among young people aged 25-29 increased by 5% between 2023 and 2024.
The continued increase in this indicator for age +65 may also signal a trend that will deepen in the future, due to demographic changes where population structures are rapidly shifting in favor of older ages.
The growth of employment in the elderly began to strengthen after the pandemic, when migration flows began to increase again, leaving gaps in the labor market.
On the one hand, the gaps left empty by young people in the labor market and on the other, low pensions are increasingly pushing retirees to work.
Post-retirement work is present in all sectors, even in the public sector.
In the regions of the country, many retirees still work in the sectors of education, health, etc., because there are no young people to replace them. At the same time, the labor market has become less attractive to young people.
During the October-December period of 2024, according to data from the Labor Force Survey, unemployment among young people with higher education had increased compared to 2023.
Developments in the labor market are showing that Albania is facing the new challenge of integrating the elderly into the labor market. / Monitor/
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