Five facts on the impact of older workers

October 18, 2016   //   No Comments

The 1st of October was the United Nations International Day of Older Persons (UNIDOP).  To celebrate the day, the Office of National Statistics (ONS) produced a list of Five Facts about Older People at Work.

We’re living longer and we’re working for longer too. To mark the recent United Nations International Day of the Older Person , the Office of National Statistics (ONS) have produced five facts which show the impact of those aged 65 and over on the UK workplace:

1. The proportion of those aged 65 and over who work has almost doubled since records were first collected – from 5.5% of the working population in 1992 to 10.4% in 2016.

2. There were 742,000 men and 448,000 women 65 and over in employment in the UK in May to July 2016, compared to 301,000 men and 177,000 women in 1992. A possible factor contributing to the rise in employment among people aged 65 and over could be legislation which stopped employers from compulsorily retiring workers once they reached 65. This came into force in October 2011.

3. Part-time self-employed workers tend to be older than part-time employees – the 65 and over age group accounted for 22% of all part-time self-employment in 2015, up from 14% in 2001.

4. The economy may come to rely increasingly on older workers by 2039 – predictions show that there will be fewer people of working age to support a larger population over the State Pension Age, so workers will need to stay in employment longer.

5. The working world for people aged 65 and over is similar to those aged 16 to 64 – six industries are responsible for just over 60% of the employment of both age groups. These are wholesale and retail trade; human health and social work activities; manufacturing; education; professional, scientific and technical activities; and construction.

Read the full report on the ONS website here.