Why older workers are vital for the future of the economy

July 8, 2015   //   No Comments

The report states that there are currently 10 million people in the UK aged over 65 years old with this number projected to increase to around 19 million by 2050.  The changes that come with population ageing will leave some groups at a particular disadvantage – including the low paid, with few pension savings, and manual workers whose job is harder to do as they age.

The effects of an ageing population are apparent even in the short term. Between 2012 and 2022, an estimated 12.5 million jobs will be opened up through people leaving the workforce and an additional 2 million new jobs will be created, yet only 7 million new younger people will enter the workforce to fill these jobs.  ILC recommend that government and businesses change the world of work now, to encourage and enable people to continue working in to later life.

The full report by ILC-UK is available here.