Job losses 'hitting older men hardest'
The rise in unemployment and redundancies has hit older workers hardest, new figures show.
Data released by the Office of National Statistics reveals the number of people aged between 50 and state pension age in employment fell by 20,000 in the last quarter, with 17,000 of these being men.
According to the Age & Employment Network (TAEN), men in this age group account for 25 per cent of all men of working age, but 38 per cent of the fall in employment numbers for the last three months.
Chris Ball, chief executive of TAEN, believes firms who layoff older workers in troubled times are actually making things harder for themselves.
"When older workers disappear, organisations lose their talent and knowledge which they may need to kick-start revival," he said.
Companies should also be careful as making a worker redundant on the grounds of age could see their former employee taking them to a tribunal over discriminatory practises, Mr Ball adds.
Recently, David Blanchflower, a member of the Bank of England's monetary policy committee, warned 60,000 people a month could find themselves out of work from October as the economy worsens.
Data released by the Office of National Statistics reveals the number of people aged between 50 and state pension age in employment fell by 20,000 in the last quarter, with 17,000 of these being men.
According to the Age & Employment Network (TAEN), men in this age group account for 25 per cent of all men of working age, but 38 per cent of the fall in employment numbers for the last three months.
Chris Ball, chief executive of TAEN, believes firms who layoff older workers in troubled times are actually making things harder for themselves.
"When older workers disappear, organisations lose their talent and knowledge which they may need to kick-start revival," he said.
Companies should also be careful as making a worker redundant on the grounds of age could see their former employee taking them to a tribunal over discriminatory practises, Mr Ball adds.
Recently, David Blanchflower, a member of the Bank of England's monetary policy committee, warned 60,000 people a month could find themselves out of work from October as the economy worsens.
Labels: aging, men, UK, unemployment
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