The Impact of Delayed Retirement on China's Employment Rate is based on Three Pilot Cities: Shanghai, Nanjing and Jinan

This document analyzes the impact of delayed retirement policies on employment rates in China, based on empirical studies in three pilot cities: Shanghai, Nanjing, and Jinan. As China's population gets older and there are fewer and fewer people in the labour force, the Chinese government has come up with a great idea: a delayed retirement policy to help ease the pressure brought by an ageing population. In this paper, we used a special model called the differential-differential model (DID) to evaluate how a delayed retirement policy affects the employment rate. The results show that delayed retirement has a significant positive impact on the employment rate, especially in industries and cities with high labor demand. What's more, this paper also discusses how different industries are affected by delayed retirement. It finds that the policy has the most obvious effect on the employment rate of the primary industry. It also suggests that when implementing the delayed retirement policy, we should think about the different regions in China and the health of the elderly labour force. We should also improve the relevant supporting policies and security systems during implementation. This will help us make sure that the delayed retirement policy works well in different economic backgrounds.