Monday, January 30, 2023

Will the elderly save the economy?

Many sectors across the British economy are suffering from acute staff shortages. But at the same time around a quarter of people of working age - about 10 million people - don't have jobs. 

The chancellor, Jeremy Hunt, promised a “fundamental programme of reforms” to get millions of people back to work.

The Chartered Management Institute (CMI) suggests firms are much less open to hiring older workers than they are to bringing in younger talent. The CMI, a professional body, warns that to bring more older workers back into the workforce, employers will also need to "shift their attitudes" towards hiring.

Ann Francke, chief executive of the CMI, said, "...unless those doing the hiring revisit their attitudes, older workers will continue to be excluded, just when the labour market needs them the most," she said.

More than 1.6 million adults aged 50 and over are unable to work because of long-term sickness. The number has increased 20%, or 270,000 in three years. 

Over-50s at work: 'You feel your usefulness has passed' - BBC News

Long-term sickness leaving 1.6m UK adults over 50 unable to work | UK unemployment and employment statistics | The Guardian

No comments: