The Office for National Statistics has published its latest Labour Market statistics, including the latest employment levels for older people.
Key points on employment of older workers from August 2016 ONS Labour Force statistics (for the period March-May 2016):
- Rate of employment for 50-64 age group increased by 0.4% in three months and 1.4% in last year – currently at 70.5%. For 65+, employment rate is 10.6% - up 0.3% in three months and 0.5% on last year.
- Higher levels of men in employment than women – 75.7% of 50-64 and 14.2% of 65+ men (compared to 65.6% and 7.6% for women respectively).
- For women 50-64: employment levels – 0.7% increase in last three months, 1.8% in last year. For 65+ 0.1% increase in year and 0.6% increase in three months.
- For men 50-64: employment levels - 0.1 increase in three months, 1.2% increase on year. For 65+, 0.1% decrease in three months and 1% increase on year.
Rachael Saunders, Age at Work Director at Business in the Community responds, “Whilst it’s always positive that employment rates for older workers are increasing, it’s not enough progress to reverse employment skills gap employers are currently facing – a talent gap of 7.7 million empty roles by 2022. These percentage increases hide what are actually small increases in absolute numbers in the older age group.
“As expected, more men over 50 are in work than women, and whilst the rate of women aged 50-64 in work is increasing slightly faster than men – it is again too small an increase to bode well for gender parity for future older female workers. This reflects established cultural norms established over a long period of time, which must be addressed to make recruitment and progression fair for men and women of all ages.
“This data reiterates and reinforces the need for businesses to act now to ensure it can retain skills and experience of older workers and equip them to thrive in modern work environments.
“Our new report – ‘Age in the Workplace: Retain, Retrain, Recruit’ – launching 6 September will provide practical advice to business on how to do this.”
Register to receive notification of the report publication >>