82% of Growth in UK Employment is Coming from Those who are Over 50

Research has shown that a lot of the UK employment growth is actually down to those who are over the age of 50. The data is based on the Office of National Statistics and they have highlighted that there were actually 369,000 more workers in the UK in May when compared to October last year. 82% of the growth comes from those who are over the age of 50.

The employment rate for those who are aged 50 or above is now at its highest level since the records began. This growth is actually being driven by women as they are responsible for over half of the growth for employment over the past year. There are 5 million women who are over the age of 50 in the UK workforce right now, and when you look at the figures, you’ll soon see that this has risen by 39% in the last decade.

The analysis has shown that the over 50’s community are continuing to be the unsung heroes for the UK’s growth. They are having a dominant impact and a lot of this comes from the fact that the state pension age has increased. Employment growth has been driven by increases to the state pension age. This has forced those who are in their 60’s to carry on working or even find other sources of employment. A number of individuals are also continuing their work because they love their job or even because they want to take advantage of the health or even social benefits that their job comes with.

Patrick Thomson, who is a senior programme manager at the Ageing Better Centre has come out to say that these figures are somewhat striking and that they also showcase the importance of older workers in this day and age. The number of women who are working in their 50’s has increased by over 75% when you look at how things were 20 years ago.

For some people, this is a very wise choice, but for others, they are being pushed into it because of the ever-rising State Pension Age. Either way, it doesn’t matter why people want to work for longer because employers need to make sure that they are doing everything they can to support this and that they also remember that the over 50’s community are a vital part of the workforce.