In response to the latest employment figures from the ONS, Dr Ros Altmann, Director – General, Saga says:
“It is positive to see that levels of unemployment have fallen, including for those over fifty but our concern remains regarding longer term employment for older generations.
“Latest figures reveal that unemployment rose again for younger people and this is certainly an issue to be addressed and considered seriously. But in doing this, we cannot afford to lose sight of the countless unemployed people in their fifties and over who are approaching retirement who desperately need to earn and save.
“Saga research has found that nearly half of people (44%) aged 50 to 64 who are unemployed have been looking for work for longer than 12 months - this compares with only 30% of those aged under 50.
Following the abolition of the Default Retirement Age, it is crucial we see a push towards the employment and retention of our older workforce.
For further information, please contact the Saga Press Office on 01303 771529