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Older workers stay in employment

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.

Other findings:

  • 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%.

Employment minister Damian Hinds, said:

“It is clear that people over 50 aren’t slowing down or getting ready for retirement. I want to see businesses supporting this momentum while also reaping the benefits of the skills and expertise these older people can bring to the workplace.

“People in later life are increasingly looking to stay in work and it is important that more businesses look for ways to support them.”

Contact us today to discuss how you can support older workers in your businesses.