More older people back in the workforce

28/04/2008

The Age and Employment Network has welcomed the latest employment figures from the Office for National Statistics (ONS) which show that the number of people aged 50 to state pension age in paid work was 6.588 million, having increased in the three months Dec 07-Feb 08 by 30,000 and over the past 12 months by 120,000.
 
The number of people over state pension age has risen to 1.297 million in paid work, an increase over the past three months of 29,000 and of 94,000 over the past year.

Chris Ball, Chief Executive of TAEN, said: “TAEN has spent the last 10 years campaigning for more and better job opportunities for people in mid and later working life, so we welcome today’s employment figures showing that the number of people aged 50+ in work has gone up by 214,000 over the past 12 months – almost half of the total increase.
 
“But this is no more than what needs to happen given the demographic challenges we are facing as a country and economy, and the financial issues that are facing so many individuals in the age groups concerned - both today and in the future. 
 
“The current economic situation where more and more older people are having to turn to credit to meet their everyday living expenses and where fewer than four out of 10 people are contributing to an occupational pension, means that longer working and ‘returnment’** are two trends that are becoming well established. 
 
“We estimate that over two million more people aged 50 plus want and need to stay in, or return to work. 
 
"Government and employer policies need to catch-up and support them to do so.”