Monday, May 23, 2005

United Kingdom : Unemployment and Older Workers

Since the mid-1990s there has been a rapid rise in the number of older people in work. In spring 2003 seven in ten people aged between 50 and State Pension Age, and almost one in ten people over State Pension Age, were working. According to the Autumn 2004 ONS Labour Force Survey, older (50 to state pension age) workers’s ILO unemployment rates are lower than those of their younger counterparts--2.9% compared to 3.4% for the 25 to 49 age group and 12.6% for the 16 to 24 age group. In addition, older workers are more likely to be working part-time than the 25 to 49 age group, and self-employment is more common amongst older workers compared to the younger age groups.

Source: "Older people are much more likely to be long-term unemployed" TheMatureMarket.co.uk (May 23, 2005)

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