May 18, 2009

Older workers worst in financial crisis

It was not that long ago when the older more experienced worker was being hailed as the saviour of many businesses. This was especially so in the retail sector, who were only too quick to announce what a good these older people were doing.

But now it seems as the financial crisis continues, companies are having to think about cutting costs and therefore that usually means job losses.

Now everything has changed and those workers aged sixty or over, who only last year chose to work rather than claiming benefits are now turning up at the benefits offices around the country wanting to sign on.

This claim is bolstered by the latest figures on unemployment that show in April over twenty thousand people aged over sixty signed on, that is an increase of around sixty five per cent.

Source [Telegraph]