Older Female Employment Rate to Overtake Men
A survey has found that women in their late sixties could have a higher employment rate than men of the same age by 2020.
These findings come from the fact that employment rates of women in their late sixties are already at their highest in forty years and this rate is likely to continue accelerating – so much so that the female rate could overtake that of men in the early 2020’s.
The main reasons for this trend include the rise in the state pension age going from 60 for women and 65 for men to 68 for both genders, as well as increasing health levels. This is due to older women becoming healthier and the figure for older people living alone falling so they will be less lonely which will improve aspects of their health leading to a rise in employment rates for those aged 65 and over.
The study looked at the demographic and financial factors that affect people aged 65 and over in England up to 2023 – by this year the proportion of women aged 65-69 in employment could reach 37% which is over double the figure now which stands at 16%. This figure has already increased since 2000 when it stood at 8%. However, the rate of men employed in this same age group could rise from the current 29% to 33% by 2023.