There are now 9.4 million workers aged over 50 in employment, 3.7 million more than 20 years ago, according to the Department for Work and Pensions.
The unemployment rate among older workers dropped to 3.3% – the lowest rate since 2009.
- 8.3 million (69.4%) workers were in employment in 2015, 12.2 percentage points higher than in 1995 (57.2%)
- 1.1 million (10.2%) workers aged over 65 were in employment, more than double the rate in 2001 (4.9%)
- the percentage of women aged 55-59 in employment rose to 68.8%, an increase from 52.5%
- men aged 60-64 in employment rose to 58.5%, an increase from 45.5%.
Quote from Nigel Holland:
As life expectancy in the UK is ever-increasing, meaning that people are regularly staying in work for longer in later life. Therefore, I am in favour that businesses should do more to support these older employees with a wealth of expertise and experience.
Contact us today to discuss how you can support older workers in your businesses.