January employment figures fly in the face of the pinch enthusiasts

Wednesday 21 January 2015

Commenting on today's figures that more unemployment is down again, Saga's Paul Green commented "Today's figures fly in the face of the pinch enthusiasts who claimed that 'allowing' older people to stay in work would prevent the young getting jobs.

January employment figures fly in the face of the pinch enthusiasts

"There are now more older workers than ever before, yet unemployment for all age groups continues to fall. Our research has demonstrated that the increased spending power of older workers directly helps support employment for younger workers and should therefore be encouraged for everybody that wants to continue working.

"However today's figures also reveal that the over 50s still account for a greater proportion of those stuck in long term unemployment (44.6% compared to 32.3% for under 50s), and is a thorny issue that needs to be tackled. We have an army of people willing, and often desperate, to work who find their experience worthless when looking for a job.  Retraining is of course important, but we also need to do more to encourage employers to take a second look at the CVs of those in long term unemployment and appreciate the lengths many are going to in order to find themselves suitable work. We believe giving tax breaks on Employers National Insurance could be just the incentive that is needed to encourage employers to get this experience back in the workplace."

Saga's monthly employment indices is available to download here.




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