In December 2009 TAEN, Age Concern and Help the Aged, and CIPD published a briefing on ‘The Impact of the Recession on Older Workers’.
The recession has led to people of all ages facing redundancy, unemployment and significant challenges to get back to work. But for many older workers, particularly those who have been in employment for 20–30 years, redundancy can be a huge shock and they lack the skills needed to search for new employment in today’s environment.
This is one of the many factors that means once out of work, it is much harder for the over-50s, particularly men, to find a job again; and the longer they stay out of work, the worse their chances of working again become. For many over-50s this will result in an early and permanent retirement, denying them the opportunity to build up a decent pension and making them more dependent than on state benefits.
Click here for the report