Can Older Workers Stay Productive? The Role of ICT Skills and Training
This paper quantitatively examines the effects of aging on labor productivity using individual worker data in Korea. We find that attainment of information and communications technology (ICT) skills and participation in job-related training can help older workers stay productive. The estimation results present that ICT skills attainment has a positive effect on the wages of the older workers aged 50–64 with a high level of education or in a skill-intensive occupation. Job training also has a significant positive effect on the wages of older workers. Even compared to younger workers, older well-educated workers can be more productive through higher ICT skills attainment and job-training participation. The evidence suggests that a productivity decrease in line with the aging process can be mitigated by training aging workers to equip themselves with ICT skills.