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Over 50s are why employment levels are increasing

The latest UK figures for employment show that more people are working in the UK as the country recovers after the recession.

What is not always clear is that the age group which is helping this growth are those in jobs aged over 50. This continues a trend that saw workers aged over 65 pass the 1 million mark some time ago.

The rise in employment has been put down to those hurtling towards retirement age choosing to stay in their jobs longer or coming out of retirement.

According to pundits, the combination of a change in the laws on retirement age and increases to state pension age have meant those who want to continue to work can do so without being forced to leave.

Many over 50s are also continuing to work or returning to the office not because they want to, but because of economic necessity.

Falling living standards, caused by low interest rates, subdued pension returns and utility price inflation, could also account for the rise in over 50s at work.

85 per cent of employed over 50s value the opportunity to remain in work in order to use their experience and skills.

However, 79 per cent say they are still doing so to boost their retirement income "as many feel that their predicted retirement income is not likely to achieve what they originally anticipated".

The unemployment rate for those aged 50-64 fell to 3.2 per cent in the three months from February to April 2015, down from the 3.4 per cent recorded in the three months to March 2015.

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