"Fresh analysis of the latest Labour Force Survey shows that 917,000 people aged between 50 and 66 are currently out of work and unable to secure employment. When those aged 66 to 70 are included - many of whom remain economically active despite being eligible for the state pension - the total rises to just under one million."
"The data suggests a 22pc increase in joblessness among over-50s since 2023, a trend industry figures say is being driven by a combination of rising employment costs, tighter labour conditions and shifting workplace expectations."
"Business groups have pointed to the combined impact of recent increases in employer National Insurance contributions and the implementation of the Employment Rights Act, arguing that the cumulative burden is making firms more cautious about hiring and retaining older workers."
"Some employers say they are increasingly balancing such requests against tighter margins and persistent skills shortages, with hiring decisions becoming more selective as a result."
Joblessness among UK workers aged 50-66 has reached 917,000, rising to nearly one million when including those aged 66-70. This represents a 22% increase since 2023. Rising employer National Insurance contributions and the Employment Rights Act have increased hiring costs and workplace complexity, making employers more cautious about hiring older workers. While expanded workplace rights offer flexibility benefits, particularly for those managing health conditions or caring responsibilities, employers cite tighter profit margins and persistent skills shortages as constraints. Broader labour market softening across sectors has disproportionately affected older workers, especially those returning after employment gaps.
#older-worker-unemployment #employment-legislation-impact #labour-market-trends #employer-costs-and-hiring #workplace-flexibility
Read at London Business News | Londonlovesbusiness.com
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