Ageism in the labour market will continue to slow economic recovery, as new government figures released today show a slower-than-expected upturn in employment across the board and increasing levels of economic activity among people aged 50-64.
Employment amongst over 50s continues to falter, with around 208,000 fewer in employment compared pre-pandemic levels. These are workers that employers, facing an incredibly tight labour market, can ill afford to lose.
For employers, tackling age-bias in recruitment and proactively ensuring that their workplaces are accommodating to older workers will be key to managing this recovery.
A failure to address the growing number of over 50s who are falling out of work risks forcing these would-be workers out of the labour market for good, dampening economic recovery and leading to unnecessary hardship for many, who will face years before they can draw down state and private pensions.
Economic inactivity, that is, people who are both not in work and not looking for work, among those aged 50-64 has risen by 1.29 percentage points when compared to figures from the start of 2020 – an increase of more than 200,000 people.
Our research shows that over 50s find it the hardest to break back into the labour market after having fallen out, often leading to long-term unemployment up until reaching the state pension age. Our Good Recruitment for Older Workers (GROW) project also suggests that over 50s experience widespread ageism in the workplace and recruitment process.
Amid cautious optimism that the worst of the Omicron variant’s reign has passed, we're continuing to call for measures to prevent those aged 50-64 from falling out of the workforce altogether.
