Studies in the Area of Economics Reported from Vilnius University (Employment at 55+: Do We Want to work Longer in Lithuania?)

2020 MAY 25 (NewsRx) -- By a News Reporter-Staff News Editor at Economics Daily Report -- Investigators publish new report on economics. According to news originating from Vilnius University by NewsRx correspondents, research stated, “The Lithuanian population is aging, and it causes many difficulties for public finances by increasing expenditures on health care, long-term care, and pensions, and also for the labor market by creating labor shortages.”

The news reporters obtained a quote from the research from Vilnius University: “One of the ways to cope with demographic aging is to rise the employment rate of older people. According to Eurostat, the employment rate of the elderly aged 55-64 years increased from 49.6 percent in 2005 to 68.5 percent in 2018 in Lithuania and it is higher than the average employment rate of older workers in European Union, which was 58.7 percent in 2018. This paper focuses on older people in Lithuania, aged 55 and over, trying to answer a question whether the elderly in Lithuania willingly work or try to find alternatives such as receiving long-term social insurance benefits. The research findings show that the activity of older people in the labor market grows, and even the share of people with disabilities staying in the labor market increases. However, this analysis also shows that older people are more under risk to lose their job during an economic crisis, and this suggests that trying to find work alternatives can be closely related to one’s economic situation. Moreover, health problems remain one of the main factors limiting the activity of older people in the labor market.”

According to the news editors, the research concluded: “It is also noticeable that some labor force reserves exist among people with disabilities and this supposes that creating better adapted working conditions for older and disabled workers in Lithuania could probably contribute to meeting the needs of an aging workforce.”

For more information on this research see: Employment at 55+: Do We Want to work Longer in Lithuania?. Ekonomika, 2020,99(1). The publisher for Ekonomika is Vilnius University Press.

A free version of this journal article is available at https://doi.org/10.15388/Ekon.2020.1.3.

Our news journalists report that more information may be obtained by contacting Kristina Zitikyte, Vilnius University, Lithuania.

(Our reports deliver fact-based news of research and discoveries from around the world.)