One in eight older workers have changed their retirement plans as a result of the Covid-19...read more
New analysis suggests the over 65s are the most likely to have reduced their hours worked since the coronavirus pandemic, possibly because they are more likely to be shielding or self isolating.
The over 65s have seen the biggest percentage drop in the average number of hours worked than any other age group since the coronavirus pandemic, according to new analysis.
Rest Less, a site for over 50s, analysed data from the Office of National Statistics to show that the average number of hours worked by employees over 65 fell from 20.2 between January and March this year to 16.1 between March and May – a drop of 20.3%.
They were followed by 18-24 year olds who suffered a 20.2% fall in the number of hours worked, from 28.2 hours per person between January and March this year to 22.5 between March and May. The 25 to 49 year old age group saw the lowest falls in hours worked – down 13.9%. Fifty to 64 year olds have seen a 15.6% drop.
Rest Less say the number of hours worked is generally seen as a truer measure of the impact of Covid on employment patterns, providing insight into shielders, self-isolators and those who have been put on furlough.
Stuart Lewis, Founder of Rest Less, said: “There are many older workers who must continue to work to make ends meet. All age groups have seen a drop in the average number of hours worked in the last three months, but data shows that the over 65s are the most impacted group, likely due to the number of people in this age group who have had to shield or self-isolate.
‘We support Age UK’s call on the government to protect shielders with a furlough-esque scheme to ensure that older workers have some level of job protection. Without it, many are likely to face financial hardship, forced into an early retirement they simply cannot afford.”