IMPACT OF DIGITAL LITERACY ON THE LABOR INCOME OF THE «YOUNG» ELDERLY: EVIDENCE FROM CHINA

Relevance. Under the dual background of the deepening global population aging and the rapid development of the digital economy, the study of the impact of digital literacy on the labor income of the elderly is of social significance in guiding the «young» elderly to continue to participate in social labor, making up for the shortage of labor force, alleviating the pressure of social pension and reducing the burden of family pension. In this regard, it is important to study international cases reflecting the impact of digital literacy on labor income. This paper introduces the influence of digital literacy on the labor income of «young» elderly people from China. Objective: to study the impact of digital literacy on the income of Chinese elderly people who have just reached retirement age and to make development recommendations for the interests of all stakeholders in this process: the State, the market, society, the elderly and their families. Methods: analysis and synthesis of scientific literature regarding the concept of digital literacy of the elderly and the influence mechanism of digital literacy on labor income. Using Chinese Social Survey 2017 (CGSS-2017) data, Poisson regression method is used to empirically analyze the impact of digital literacy on labor income of the «young» elderly in China. Results. This paper confirms that digital literacy has a positive impact on the labor income of the «young» elderly, and analyzes the digital divide formed by the differences in education level and living area of the «young» elderly and the differences in labor income. Conclusions. Protecting the labor participation of the «young» elderly by developing their digital literacy is important not only for increasing personal income but also for reallocating family budgets between generations; it is also important for macroeconomics, since the employment of the «young» elderly contributes to reducing labor shortages in the labor market, as a result of changes in the age structure of the working population in the context of global ageing. Maintaining one 's labor activities after reaching working age limits increases budgeted tax revenues, reduces government spending on additional social benefits for low-income older persons and reduces individual and family dependency on social pensions. Equally important is the social benefits of narrowing the intergenerational digital divide. This paper puts forward specific suggestions to improve the digital literacy of the «young» elderly and make up for the digital divide. It is suggested to actively build a 'five-in-one' digital literacy improvement governance system for the elderly with (1) government guidance, (2) market initiative, (3) social linkage, (4) family support and (5) elderly participation.