Commenting on today’s unemployment figures, Dr Ros Altmann, Director General of Saga said:
“The latest unemployment figures are truly shocking and older women are among the worst hit. Our research has found that unemployment among older women has reached its highest level since records began*, with 156,000 women aged over 50 currently out of work. The number of jobless women in this age group has risen by 24% in the past year, significantly higher than the 8% increase seen for women across all ages.
“Policy makers and employers must take note that people in older age groups are suffering abnormally high levels of unemployment with nearly half (43%) of unemployed over 50s out of work for more than a year, which is higher than the 32% seen for UK unemployment as a whole. With their savings dwindling in value due to low interest rates and high levels of inflation making living costs a strain, the lack of jobs and subsequent income for older people is a critical issue that cannot be ignored and if this is not addressed, we will be wasting hugely valuable resources.”
*Records began in 1992