Abstract:Selecting provincial-level panel data from various provinces and cities in China from 2009 to 2019, the impact and mechanism of social security expenditures on employment from the perspective of population aging through panel fixed models and interaction analysis were explored. Research has found that an increase in social security spending can promote employment. The deepening degree of population aging suppresses employment. An increase in social security expenditure can suppress the negative impact of population aging on employment. There is regional heterogeneity in the positive impact of social security expenditure on employment. An increase in social security expenditure in high aging areas is more conducive to promoting employment growth, while an increase in social security expenditure in economically developed areas promotes employment growth, while an increase in social security expenditure in economically underdeveloped areas suppresses employment growth.