Research On The Impact Of Delayed Retirement On China’s Labor Market

With the growth of China’s economy,the advancement of science and technology,the development of medical technology,the increase in life expectancy per capita,the aging of the population continues to deteriorate,which leads to a decrease in the labor force age population,lack of labor supply,a gradually disappearing labor market" Demographic dividend" and the increasingly serious social pension burden.The current retirement policy can no longer meet the needs of social development.Therefore,the new national key task and social focus is delayed retirement policy reform.Implement a delayed retirement policy can increase quantity of labor supply in the labor market and improve the employment opportunities of the elderly laborers,thereby increasing the income of the elderly laborers to a certain extent and appropriately improving the social conditions of the elderly laborers.Through the research on how delayed retirement policies affect the labor market,the purpose of this article is not only to understand how delayed retirement increases labor supply,but also to understand the crowding-out effect of elderly labor employment and the degree of difference in impact on different age groups.It has a strong reality Value and meaning.This article uses a combination of theory and empirical methods to study the impact of delayed retirement on my country’s labor market.First,based on the latest research results related to delayed retirement at home and abroad,using life cycle theory,the quantitative relationship model between delayed retirement and employment,and labor market supply and demand theory,it is clarified that delayed retirement can increase labor income,increase labor supply and cause crowding out effect.Secondly,analyze the labor market in China,study the factors affecting the labor market from the population age structure,economic growth,labor market,industrial structure,etc.,based on the research on the influencing factors,use regression theory to construct a model of the effect of delayed retirement on the labor market.Furthermore,combined with the constructed regression model,based on China’s employment population data by age from 1990 to 2018,using empirical research methods to analyze the crowding-out effect of delayed retirement in China and the degree of interaction between the number of laborers in different age groups difference.Finally,it puts forward policy recommendations for delayed retirement.The research results show that China has a flexible labor supply and demand curve.Delayed retirement will affect the labor market through the crowding-out effect produced by the increase in the supply of elderly labor.Delayed retirement will have different degrees of crowding-out effect on labors of different age groups,and delayed retirement will produce The crowding-out effect is weaker than the crowding-out effect between the working-age population.The gross domestic product,labor force participation rate,and the proportion of the employed population in the total population can alleviate the negative impact of delayed retirement on the labor market.