The aim of this research was twofold: to examine the prevalence of employment and under-employment among Taiwanese older workers (aged 50 and above), and to explore personal correlates of their employment status, in particular gender and education. Using a national representative sample, we found that: 1) a rather substantial percentage of people continued to work well into their older years; 2) the underemployment rates were substantial in the older age, and less-educated workers and women were more at risk; and 3) multivariate analysis confirmed that age, gender, personal health, spousal health, and family income were significant predictors of continued employment after age 50. Gender and education were also significantly related to the risk of under-employment. Our results highlight the importance and urgency of more concerted research to inform public labor policies, especially in an aging developing society where older workers are faced with a double challenge of economic and societal restructuring. (Contains 6 tables.)