Older Workers: Employment Rise – CSO Data
Here’s a summary of the key points from the provided text:
Active Older Population: A notable portion of the elderly population in Ireland remains active – 75% of those aged 75+ walk regularly (at least three days a week). This is a higher percentage then younger adults (18-24, at 85.2%).
Aging Population & Dependency Ratio: Ireland’s population is aging. the old age dependency ratio (percentage of people 65+ compared to those 15-64) is projected to nearly double, from 25% in 2027 to 49.8% in 2057.
Life Satisfaction: Surprisingly, older people (65+) report higher levels of life satisfaction (32.3%) than those aged 25-49 (24.7%).
Financial Concerns: Despite activity levels and satisfaction, ther are growing financial vulnerabilities among seniors:
Mortgages: More people over 65 have mortgages – a 20% increase between 2016 and 2022.
Pensions: 20% of workers aged 55-69 lack a private pension.
Poverty Risk: The risk of poverty among those 65+ has increased significantly, from 8.3% in 2023 to 13.3% last year.
housing Market Impact: The age at which people buy their first home is increasing, contributing to the financial pressures on older generations.
In essence,the article paints a picture of a growing,active,and relatively satisfied older population in Ireland,but one facing increasing financial challenges.
