Re-Thinking Early Retirement in Europe

The New York Times observes:

Figures compiled by the Organization for Economic Cooperation and Development show that in 2009 only one Frenchman in five, ages 60 to 64, was in the work force, either holding down a job or looking for one. In the United States, by contrast, 61 percent of men in that age group were working, triple the French rate.

In Japan, on the other hand, three-quarters of such men were in the labor force.

Generous social benefit systems have long made it possible for residents of most Western European countries to stop working relatively early, but France stands out even among its peers. In Germany, just over half the 60- to 64-year-old men are in the labor force. Even in Italy, another country with a strong sense that people should work to live, rather than live to work, 30 percent of men in that age group are still in the labor force.

The accompanying charts show the work force participation levels by age group for six countries. The two Asian countries listed, Japan and South Korea, stand out in longevity of employment. Nearly a quarter of South Korean men over 75 are still in the labor force, as are 14 percent of Japanese men. In the United States, a 10th of such men are working or seeking work, compared with half of 1 percent in France.

Put another way, a Korean man over 75 is more likely to be working than a Frenchman in his early 60s.