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Nearly 10 million people aged over 50 are now in work


A record 9.9 million people aged 50 and over are in work, new figures show from the DWP. "There has ben a revolution in older people staying in work", says Keith Simpson, director of SkilledPeople.com.


 


The total is 3.9 million more than 20 years ago while the unemployment rate for the age group is 2.9%, down from 3.1% last year. The employment rate of people aged 65 and over has doubled from 5% to 10% in 20 years, said the Department for Work and Pensions.


 



Meanwhile, the average man now retires at 65.1 years old, which has increased by almost two years since 1997. Women typically leave work at 63.6 years old – three years more than 20 years ago.


 


Employment Minister Damian Hinds said: “Staying in work for longer is not only better for our physical and mental wellbeing, but also means more money in people’s pockets.


 


“As our workforce ages, these latest figures are a further demonstration of how people are also positively changing their attitudes to employment in later life.”


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