News | Legal News

08 September 2017

Record number of over-50s in work

The unemployment rate for over-50s is down on last year - with a record number within the age group in work.

A total 9.9 million people aged 50 and over currently have a job, according to official new figures from the Department for Work and Pensions.

The total is 3.9 million more than 20 years ago while the unemployment rate for the age group is 2.9%, down from 3.1% last year.

The employment rate of people aged 65 and over has doubled from 5% to 10% in 20 years, said the Government.

Meanwhile, the average man now retires at 65.1 years old, which has increased by almost two years since 1997.

Women typically leave work at 63.6 years old - three years more than 20 years ago.

Employment Minister Damian Hinds said: "Staying in work for longer is not only better for our physical and mental wellbeing, but also means more money in people's pockets.

"As our workforce ages, these latest figures are a further demonstration of how people are also positively changing their attitudes to employment in later life."

Kathryn Fielder

Kathryn Fielder

Tel: 01753 279029

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