Copy article

Over 50s and jobs since start of pandemic

ended 14. March 2022

This morning at 09:30, the Office for National Statistics publishied a report entitled, Over 50s Lifestyle Study: Attitudes and reasons for workers over 50 leaving employment since the start of the pandemic. It can be found >> here <<. We'll leave this alert open until 10:15am if you'd like to see its key findings first but equally if you have thoughts already, send them across ASAP. Note there is another report that may also be of interest being published >> here <<. It's entitled: Movements out of work for over 50’s since the start of the pandemic.

 

 

1 responses from the Newspage community

Copy all

Copy

Premium
Suzanne NobleVerified
Co-Director at Startup School for Seniors
"There's no doubt that the rise we've seen in older people choosing to go self-employed has been driven by multiple factors as highlighted in the report, especially around those who have unexpectedly been made redundant or furloughed. While the media tends to report 'olderpreneurship' as being an exciting and self-directed choice, our experience running Startup School for Seniors is that it's primarily driven by external factors such as being unable to gain full time employment or employment that is flexible around other responsibilities such as caring. I'm hugely concerned about rising unemployment among people aged 50+ now that furlough is long gone. We've seen a sharp rise in enquiries from over-50s coming from those who are at risk of losing their job or who have been made redundant. I suspect the worse is yet to come. Many employers see older people as non tech-savvy and surplus to requirements, whereas the reality is they are highly experienced, very motivated and quick to adapt to new technologies. Our Startup School was specifically launched to help these people create businesses of their own, where they can utilise the experience and skills they have picked up during 30 or more years in the workplace. They have a streetwise savvy and experience that many firms bizarrely do not value. Also, people with experience are much more suited to the remote working culture that is now embedded, as they have the skills already and can just get on with the job. UK companies that jettison loyal and experienced staff may come to regret their decision in time. Equally, people aged 50+ who set up their own businesses are increasingly seeing it as the best thing they have ever done, as it gives them a flexibility, freedom and work/life balance that they never had before."