According to a new CIPD report.
Older workers are finding it tougher than other age groups to rejoin the job market after being made redundant. Fewer than one in five over-50s find employment within three months of losing their job, compared to more than 40 per cent of 25 to 34 year olds, official figures show.
Men in the 50-plus age band are faring the worst, with long term unemployment - being jobless for more than six months - doubling in the age group in the past year. This effectively forces men into early retirement, says the alliance of organisations.
In contrast, the rate of long term unemployment among women aged over 50 has only risen half as much, possibly due to their ability to work part-time or willingness to take lower paid roles in the service sector.
Existing government and employer initiatives, such as the Job Guarantee scheme, focus on helping 18 to 24 year olds into employment.
Dianah Worman, the CIPD’s diversity adviser, suggested a similar scheme could help older workers. “For older workers it is far too easy for long-term unemployment to turn into permanent disengagement from the labour market. A job guarantee for older workers would send a signal that these people cannot and should not be resigned to spend the rest of their life reliant on the state.”
Andrew Harrop, head of public policy at Age Concern and Help the Aged, said: “An end to the working lives of men in their 50s now will not only condemn them to an uncomfortable retirement, but will also deprive the recovering economy of their skills and experience, just when they are most needed. The Government must take action in the Pre-Budget Report to avoid creating a lost generation of older workers.”
We would also argue that there must be more emphasis on flexible working which is what the 50`s say that they want. We need to stop thinking that this is all about creating masses more of 40+ hour a week jobs.
What will you do with your surplus?
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