Research On The Impact Of Delayed Retirement On Youth Employment

Since the founding of the People’s Republic of China,especially since the reform and opening up,the country’s recovery and comprehensive development have required a lot of human resources.The demographic dividend has become an important factor in China’s rapid economic and social development.Then,with the continuous development of society,the improvement of medical and health conditions,the continuous increase of life expectancy and other factors,the problem of aging population is becoming more and more serious.In this context,the discussion on the issue of delayed retirement grows older.Delaying the retirement age of labor workers can not only make full use of effective human resources,but also make up for the pension gap.Looking at the world,most of the Western countries that entered aging earlier have delayed retirement to alleviate the disadvantages of aging.China is still in a developing country,and the retirement age used is still the retirement plan formulated in 1978.Therefore,the mainstream view of China agrees with the implementation of the delayed retirement policy.However,whether delaying the implementation of the retirement policy will bring some disadvantages,such as whether it will have a negative impact on employment,especially for the young labor force that has just entered the society.This is what we need to consider when implementing the delayed retirement policy.One of the key issues.Based on this,this article mainly studies whether the delayed retirement will have a―crowding-out effect‖ on youth employment.This article uses the data of 31 provinces in China from 2005 to 2018,and adopts the panel data fixed effect model for quantitative research.The youth unemployment rate is used as the explanatory variable,the working-age population and the old-age dependency ratio are used as the explanatory variables,and at the same time,they are classified and discussed according to different marketization indicators and different talent aggregation.Empirical research shows that: First,there is a positive correlation between the working-age population and the youth unemployment rate,that is,the more the working-age population,the higher the youth unemployment rate;the elderly dependency ratio is positively related to the youth unemployment rate,the lower the elderly dependency ratio,the lower the youth unemployment rate.Second,the degree of marketization and the concentration of talents will have an impact on the youth unemployment rate.The lower the degree of marketization,the higher the impact on the youth unemployment rate.The lower the degree of talent concentration,the higher the youth unemployment rate.At the end of the paper,based on the analysis of the empirical results,the following five suggestions are put forward on how to better implement the delayed retirement policy: First,the combination of a progressive retirement policy and a flexible retirement system;Second,the diversification of courses and the change of youth employment concepts The third is to strengthen the introduction of talents and expand the scale of market opening;the fourth is to improve the pension insurance system and improve the status of the labor market;the fifth is to support the development of small and medium-sized enterprises and accelerate the optimization and upgrading of the industrial structure.