Redundancy risk greater for older workers

A new analysis of job figures by Age UK has shown that older workers are both more at risk of redundancy and find it harder to find a job when unemployed than most workers.

Age UK’s study of ONS Labour Market statistics shows that people over the age of 50 are more likely to be made redundant than workers aged 24 - 50. This has been the case in every quarter since 2011.

The study shows that for the last quarter of 2012, 6.6 people aged over 50 were laid off for every thousand in work in the previous three months. This compares with 5.1 workers aged 35 - 49 and 5.2 aged between 25 and 34. Workers aged 16 - 24 year olds were slightly more at risk, with seven people made redundant for every thousand workers, but they were more likely to quickly find work again.

Once unemployed, the figures show that only 23% of 50 plus workers were back in work by the next quarter. This compares with over 35% of 35 - 49 year olds, almost 40% of 25 - 34 year olds and 34% of 16 - 24 year olds. 

“It’s important to remember that the high redundancy figures include people who are being forced to give up their jobs, and is not just made up of people voluntarily taking redundancy,” said Michelle Mitchell, Charity Director General of Age UK.

“With the rising State Pension age meaning many people will need to work longer coupled with our ageing population, it is more critical than ever that the Government and employers take steps to stamp out discrimination in recruitment and in the workplace,” she added.