The latest ONS data reveals the widening gap between the number of men and women aged 50+ in the labour market since the pandemic, with over half a million more men than women employed in this age group.
According to the latest labour market figures for April-June 2022, there were 5,640,000 men and 5,049,000 women aged 50 plus in employment, a difference of more than half a million – 591,000.
This gap has widened since the pandemic by over 100,000 when, as of January-March 2020, there were 5,596,000 men and 5,108,000 women over 50 in the workforce.
It means that over that period, 59,000 women over 50+ have dropped out of the workforce compared to a modest rise in the number of working men older than 50.
Stephen Lowe, group communications director at retirement specialist Just Group, said: “Before the pandemic, there were still fewer women than men aged over 50 in the labour market, but the gap was narrowing due mostly to the recent rises in State Pension Age.
“Today’s figures show that trend has been thrown into reverse since the pandemic, with a net loss of women aged over 50 in the workforce.
“The data highlights the need for the government and employers to provide more proactive support for older workers, especially women, who want to work.
“Our research finds that retired women over 55 are more likely than men to drop out of the workforce because of ill-health or to provide care, and much less confident than men that they could find paid employment if they wanted to.
“In a tightening labour market attracting and retaining these ‘silver workers’ provides employers with a ready-made experienced workforce that has a lifetime of skills and experience to offer.
“If these older workers, especially women are finding it hard to stay in the workplace or are choosing not to return, then perhaps as employers we need to reflect on why and what we can do to entice them back.”
