pse5 layer

PSE5 was issued in October 2006.

Even with the latest PSE2020 (which requires Win 10) and an adequate hardware, you would need to add an external add-on to be able to run a script which can export your layers as new files (see https://elementsplus.net/help/en/layers-to-files.htm). You would have to deal with the resulting file size and the batch options to process all your 200 files.

Your project requires Photoshop (or Photoshop Elements plus the add-on), which means Win 10 and system requirements:

https://helpx.adobe.com/fr/photoshop-elements/system-requirements.html

... and to be acquainted to scripting or accept to apply the existing script manually to all 200 files.

This may help if you're having problems launching Ps.  I recall there being a 7.01 update for 7 but doubt .01 would improve present circumstances.

To turn off e-mail notifications, click on the top icon all the way to the right on the web page. Go to Account settings>notification tab and uncheck the appropriate box.

These instructions might help using your ancient Ps, no guarantees.

Photoshop Elements does not have the facility to write actions, although they can be implemented in PSE once written. If you wish to do this, have someone who has full PHOTOSHP write the action for you, Otherwise, it is a manual process in PSE.

Moved to the Photoshop Elements forum from the Photoshop forum.

The oldest version I have is Photoshop CS6, and this is what works on that version. I hope the same commands are available in your version.

Select File > Scripts > Export Layers to Files.

----------

If it works for you, you could save time by creating an Action, using the Actions panel. 

If you decide to create an action, for convenience, put all files to be saved into a folder. Create a separate folder for the final jpgs.