The effect of employment on the subjective well-being of 60–80 years old people

Abstract

PurposeThe current study investigates the association of employment at older age (60–80 years ) with the cognitive component of subjective well-being (SWB): life satisfaction.Design/methodology/approachOut of the Survey of Health, Ageing and Retirement in Europe (SHARE), the present study’s sample included 58,197 observations of participants aged 60–80 years from 18 countries. The authors estimate the direct effects of employment and number of working hours on life satisfaction while considering the characteristics of the job and their impact.FindingsResults reveal that individuals who do not work enjoy a higher level of life satisfaction and so do those who work in developing jobs. Work under pressure reduces the level of SWB and working in physically demanding jobs has no significant impact on SWB. The results confirm previous findings regarding the positive contribution of self-employment to individuals’ SWB.Originality/valueThe results allow policy makers to implement policy measures that can improve older workers' SWB.