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Thailand has entered into an aging society since the year 2000. Using the2017 Survey of the Older Persons in Thailand collected by Thailand NationalStatistical Office, this study uses cross tabulation, random forest withvariable importance measure and lasso logistic regression to examine factorsthat have effects on the elderly's decision to remain in the labor market afterretirement. This study reveals that these following variables: age, educationlevel, healthcare eligibility, marital status, health condition, total assets,gender, residential type, percent of elderly in the household, and number ofchildren have strong influences on an elderly's desire to continue work. Byknowing which factors contribute to the elderly wish to continue work in themarket, this research allows for future prediction of the labor market that canaccommodate elderly in Thailand. Our final models of random forest and lassologistic regression provide prediction accuracy of 68.19 and 69.58 percent onthe elderly's desire to work, respectively. This study has a significant impactas policymakers can utilize our models in predicting elderly's desire to workafter retirement age and design a labor market that can accommodate elderly inThailand in the future.

Do elderly want to work? Modeling elderly's decision to fight aging Thailand