Major report by the Resolution Foundation shows older workers hit hard by the pandemic. Rising participation rates of 50-64s in employment prep pandemic have now declined.
Once out of work, older people struggle more than younger counterparts to return to work; and when they do, they typically face a hit to their earnings.
The report authors state that in order to help older adults back into work, the government should ensure that employment support schemes effectively cater to the unique needs – and often higher levels of experience – held by older workers. They should also consider the role of retraining and tax credit supplements for older returners to work. See the report here: https://www.resolutionfoundation.org/publications/a-u-shaped-crisis/