The number of over 65s in work is rising, fuelled by more part-time working.
The number of over 65s in work has risen to just under 1.5 million, the highest ever recorded, according to the Office for National Statistics [ONS].
The record number of over 65s in work between April ans June 2022 is in part due to the increase in the age at which people qualify for the state pension, which rose to 66 for both men and women by October 2020, and an increase in part-time work. Indeed, the average hours worked for those aged 65 and over fell in the last quarter – down from an average of 22.3 hours in January to March 2022. to 21.7 hours per week.
The number of part-time employees aged over 65 increased by 85,000 (17.7%) and the part-time self-employed rose by 76,000 (28.7%).
While the number of people working very long hours (more than 45 hours per week) also increased, this was offset by a decrease in those working between 31 and 45 hours per week (down 6.8%), says the ONS.
Industries where informal employment is more common, such as hospitality and arts, entertainment and recreation, saw some of the largest increases.
Analysis shows that economic inactivity among older workers rose during the early years of Covid, but has started to fall, particularly for over 65s, with cost of living pressures possibly a factor.