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Redundancy Rates Highest for the over 50s

redundant in 50s image Article by Fabafterfity

 It is crucial that today’s over 50s are aware of their legal rights regarding ageism in the workplace, especially in light of  employment figures released today.

 Responding to today’s Labour Market Statistics from the Office for National Statistics, TAEN The Age and Employment Network has expressed concern that the redundancy rate for the over-50s stands at 5.5%, higher than any other working age group over 25 and TAEN  warns that this is likely to rise even higher as public sector job losses take hold.

The over 50s also contains the highest proportion of people likely to have been unemployed or claiming JobSeekers Allowance for 12 months or more.

Overall, the number of people in work between the ages of 50 and 64 fell by 24,000 in the last quarter to 7.29 million and economic inactivity among this age group rose
by 67,000 in the past three months to 3.62 million.
Chris Ball,Chief Executive of TAEN says:

“The higher redundancy and long-term unemployment rates among over-50s are extremely concerning and we fear that older workers will continue to suffer as public sector employers begin shedding more jobs.

“Historically there have been higher numbers of over-50s working in areas such as education, public administration and healthcare. With public sector jobs losses set to increase significantly in the coming months, TAEN fears that older workers will suffer disproportionately.

“Employers must ensure that they don’t base redundancy decisions on an individual’s age and add to the problem of unemployment among the over-50s.”

Those looking for employment should also ensure that they are not victims of ageism during the recruitment process, and do all they can to prepare thoroughly for potential roles in today’s  highly competitive employment market.

Ceri Wheeldon

Ceri is Founder and Editor of Fabafterfifty.co.uk She is a frequent speaker at events and in the media on topics related to women over 50 , including style and living agelessly. With 20+ years experience as a headhunter Ceri also now helps support those looking to extend their working lives.

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