A new era for age

Older workers are rarely treated kindly by recessions. They are traditionally more likely to get laid off, and once out of work they find it harder than younger people to get new jobs. But this time it’s been different. While it’s still harder for the over 55s, especially men, to re-enter employment, official labour force statistics show no evidence that older workers are disproportionately losing their jobs. Nor, it seems, are they being forced into retirement at 65.

Indeed, there are signs that the recession is accelerating a trend towards working longer that was already being driven by an ageing population, greater life expectancy and reduced pension provisions. According to EEF, the manufacturers’ organisation, which represents manufacturers, almost half the workers in member companies who reached retirement age in the 12 months to April 2009 asked to work on, and 84 per cent of them were accommodated by their employers.