The Determinants of Participation in Economic Activities in Old Age: Focusing on Depression and Life Satisfaction

Abstract

The purpose of this study was to compare differences in socio-demographic characteristics, depression, and life satisfaction between the elderly participating and the non-participating in economic activities, and to identify variables that affect participation in economic activities in old age. For the purpose, we conducted Chi-square test, t-Test, Pearson correlation analysis, and Binomial logistic regression analysis on the raw data of 10,097 people over 65 years old from 『Survey on the Status of the Elderly in 2020』. The main results were as follows : 1) There were higher proportion of subjects male, younger, higher educated, with a spouse, with higher income, with good subjective health, and living with a spouse in the participating group than in the non-participating economic activity group. In addition, the participating group in economic activities had higher satisfaction with health status, economic status, social-leisure-cultural activities, relationships with friends or community, and life as a whole, and lower depression. 2) As a result of the binomial logistic regression analysis, the model was statistically significant and had an explanatory power of 24.0%. All variables except satisfaction with economic status were significant factors influencing participation in economic activities in old age. The elderly male, younger, less-educated, living alone, higher-income, higher satisfaction with health status and relationships with friends or community, lower satisfaction with social-leisure-cultural activities and life as a whole, and with lower depression were more likely to participate in economic activities. Finally, based on the results of this study, several limitations and suggestions for follow-up research and policy direction were added.