Older Workers Labour Market Outcomes
Figure 1: Labour force participation trends of those aged 55+ 2002-2007
Figure one outlines the labour force participation trends of those aged 55 more between 2002 and 2007. Although New Zealand doesn’t have an official retirement age, participation rates start to fall more steeply above the age of 65 when New Zealand Superannuation becomes available. As a result, where feasible, this report makes a distinction between those aged 55-64 and those aged 65 and over, as such is the case for this figure. Both age bands have experienced a growth in labour force participation between March 2002 and 2007. For those aged 55-64, in 2002, labour force participation was approximately 64%, peaking in July 06 at approximately 72% and remaining stationary till March 2007. For those aged 65 or more, in 2002 labour force participation was just under 10% and peaked in March 2007 at approximately 14%.