Over 50s boost the economy and create 5.7million jobs

Friday 13 June 2014

Commenting on today’s government announcement that ‘helping people stay in the workplace longer could boost the economy by billions of pounds’ Lisa Harris from Saga said:

Over 50s boost the economy and create 5.7million jobs

“The over 50s are an increasingly important consumer group for the UK economy.  They account for some 48% of household expenditure in 2013, and this is expected to increase significantly as more continue to work for longer.  In addition they spend significantly more on services and as a result, their economic activity supports more than 5.7 million jobs in the UK, including 900,000 for young people.

“For many workers, retirement is now more a process than an event, and this is something that should be celebrated.  Older people provide a great deal of life and work experience and the fact that they choose to work for longer, either full or part time, should be welcomed wholeheartedly by employers”.


Full employment and spending research commissioned by Saga

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