Country lags rivals in employing over-50s, report finds

The UK is well down the international league table when it comes to employing older people and is missing out on skills and experience as a result, a report has warned.

It comes only 15th out of the 34 member countries in the Organisation for Economic Co-operation and Development (OECD) in terms of the employment rate of over-50s, found a study by think tank the Resolution Foundation. The country employs 15 per cent fewer older workers than those at the top of the list, equating to 1.5 million more people who could be in work, the report said.

In total, 72 per cent of men aged 50-64 are in employment and 60 per cent of women. While these figures have risen in recent years, the international comparison shows there is still room for improvement.

“Older workers have fared comparatively well in our jobs market in the last decade but the truth is we're still nowhere near the podium internationally,” said Gavin Kelly, chief executive of the Resolution Foundation. “There are very few opportunities boost living standards in the coming years and we can't afford to squander one.”

The study indicated that in most cases older people are not excluded from the labour market by choice: in fact, two out of three say they either want or need to continue working past state retirement age. But the report highlights barriers such as a lack of adequate financial incentives, caring responsibilities, a lack of employment support to return to work, limited access to flexible working opportunities and poor health, which need to be overcome.

“These findings should spur us on to make our labour market fit for older workers, from giving tailored employment support, providing higher quality part-time work and finally biting the bullet on a social care settlement to relieve caring pressures,” said Kelly.

Michelle Mitchell, Charity Director-General of Age UK, added: “The fact that at least 15 other countries in the OECD have significantly higher rates of older people in jobs than the UK only underlines Britain’s need to do more to help its citizens who are over 50 find work.

'We know that unemployed people over 50 in Britain find it harder than any other age group to get a job. With the planned rise in the state pension age, people will increasingly need to work for longer and it is vital that both the government and employers make it easier for those aged 50 and over to find a job or to continue working. This means stamping out age discrimination, adopting age-friendly recruitment policies or simply by allowing more flexible working.”