Record number of over 50's in UK workforce
Official employment figures report a record number of older workers in the UK, aged 50 and over – at 10.2 million. This is an increase of 2.7% (270,000) over the past year.
This increase has been experienced across all corners of the UK, but the North East of England has seen the highest rise in older workers at 4.7%.
Commenting on today’s figures, Alistair McQueen, Head of Savings & Retirement at Aviva said: “Greater employment at later life is good for the individual, good for employers and good for the UK economy.
With the supply of younger workers limited – and the UK reporting its largest annual fall in EU workers since records began– there is huge scope for employers and society alike to enhance the contribution of older workers to bridge a possible future shortfall in labour.
“Longer working lives can bring new opportunities but also challenges. Aviva’s research shows 44% of workers over-50 feel unsupported by their employer in their career ambition. To capitalise on the ambition and expertise of this older generation, employers need to provide rounded and tailored support to employees over-50.
“Aviva is increasing its investment in older workers by providing more flexible employment; supporting those with caring responsibilities; and piloting a “mid-life MOT” – with targeted education and support for older workers.”