Published: 26th Apr 2021

The pandemic has led to the biggest annual fall in employment for workers over 50 since the 1980s, according to new research. A new report by the Resolution Foundation – A U-Shaped Crisis – examines the economic impacts of the pandemic on older workers, and how periods of unemployment can affect their prospects upon returning to work. According to the research, while 16-24-year-olds have seen by far the largest fall in employment in the past year (3.9%), the fall in employment among workers age 50-to-69 has been twice as big as those aged 25-to-49 (1.4 compared to 0.7%). And it notes after losing work, older workers take the longest, on average, to return to employment. Six months after becoming unemployed, nearly three-quarters of 16-29-year-olds and 30-49-year-olds (74% and 72% respectively) had returned to employment, compared to fewer than two-thirds of those aged over 50 (62%). Furthermore, when older workers (aged 50+) … (To read the full article, subscribe below)