Title:
EMPLOYMENT TRAJECTORY AND WELL-BEING OF LATER LIFE IN THE UK: A STUDY USING ELSA DATA AND SEQUENCE ANALYSIS

Authors:
Qingchuan Lin and Dongjing Chen

Abstract:
The aging population problem has grown so significantly around the world these years that it has morphed into a formal field of research that has drawn much attention and popularity. Compounding the aging problem is the fact that the elderly’s financial and health well-being are unstable and are influenced by a series of factors. This research aims to discover the relationship between the working trajectories of older people (WHEN THEY ARE YOUNG?) and financial and health well-being (IN THEIR LATER LIFE?). Besides, the study also aims to identify the factors which influence people’s working trajectories. The study utilizes the panel data from waves 1 to 9 of The English Longitudinal Study of Ageing (ELSA), covering 2002 to 2019. By employing sequence analysis, the study categorized the working trajectories of the elderly into 5 groups: (1) Early retirement (2) Out of labor and early retirement (3) Self-employed (4) Employed and late retirement (5) Standard retirement. Then, the study used multi-nominal logistic regression to examine how the factors in 2002 determined the trajectories in the following years. The study further assesses how employment trajectories affect the financial well-being and health status of the elderly. Overall, self-employment and employment but late retirement will positively affect the income of older individuals. While being out of labor will generate negative effects on the elderly’s health status. The findings of this study have multiple implications for retirement planning, pension systems, and employment policies.