New analysis by economists at PwC claims that, if the UK could match Sweden in terms of its employment rates for women aged 25-54, older workers and the proportion of its young people not in employment, education or training, the potential boost to UK GDP could be as much as 12 percent, or around £250 billion at 2018 values. Although the UK labour market has been strong in recent years – the employment rate is at a record high of over 75 percent and unemployment is at its lowest level since the mid 1970s – new research from PwC indicates that performance is middling compared to other OECD economies. A new composite Labour Market Performance index, combining results from PwC’s Youth Employment, Golden Age and Women in Work indices, finds the UK is 19th overall amongst OECD countries. Iceland and Sweden top the combined index rankings based on the latest available annual data for 2018. More →

New data from Rest Less claims that there are 3.4 million over 50s working part time today, an increase of 912,000 in a decade. The UK’s part time workforce age is rising, as is being driven by the over 50s more than any other age group, according to new analysis from Rest Less, a jobs, volunteering and advice site for the over 50s. More →

The Monster Jobs Confidence Index, published for the first time by jobs board Monster.co.uk and the Centre for Economics and Business Research (Cebr), claims that workers and job seekers confidence in the UK labour market has dropped by 10 percent, from 77 percent to 67 percent. The report defines confidence as how an individual feels about their ability to find a suitable job in the short-term, realise their career potential and build a better future for themselves.

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Record numbers of over-70s are choosing work over retirement, according to new analysis from Rest Less, a membership community site in the UK to offer work and volunteering opportunities specifically targeted at the over 50s. Using bespoke data provided to Rest Less by the Office for National Statistics, Rest Less’s analysis claims that the number of over-70s in full or part-time employment has been steadily rising year on year over the past 10 years, reaching a peak of 497,946 in the first quarter of this year – an increase of 286,000 or 135 per cent since 2009. Today, nearly 1 in 12 (8.1 percent) of those in their 70s are working, a significant increase from the 1 in 22 (4.5 percent) there were 10 years ago.

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