Saga welcomes new government initiative to support older workers

Saturday 20 December 2014

Paul Green, from Saga welcomed the Government initiative to support older workers saying:

Saga welcomes new government initiative to support older workers

“Many employers recognise the great work ethic, experience and life skills that older employees offer.  However, losing you job in later life can be devastating.  Older people are more likely to become long term unemployed than other age groups, so giving them help to reskill and get back into work will be hugely beneficial.

“As well as being good for individuals, having an age diverse workforce is good for the economy.  A recent study carried out for Saga by the independent Cebr concluded that over 50s’ spending supported some 5.7 million full-time equivalent jobs in the UK in 2013.  

“In addition the increased spending power of working over 50s is becoming economically more important.  In fact, if, as of 2003, over 50s consumer spending had only grown at the same rate as under-50s spending, by 2013 UK GDP would have been depressed by 4.2% or £6.8 billion, and by 2018, UK GDP as forecast would be depressed by 6.8%. 

“We need to ensure many more older workers are enabled to continue to work for as long as they choose to, and this is a good first step towards a truly age-diverse workforce”. 

Ends

 

For further information please contact Paul Green, director of communications on 07714 414859.

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