PwC’s 2023 Golden Age Index explores the labour market impact of workers aged over 55 in OECD countries, revealing that the UK lags behind other advanced economies in the participation rate of older workers, with the number of older inactive workers increasing by 244,000 since the pandemic – greater than the population of cities the size of Portsmouth. While the employment rates of the majority of the UK population have recovered since the pandemic, workers over 55 years old have not experienced a post-pandemic recovery. The report highlights that getting the UK’s over-55’s back into the workforce is a key step to lowering the UK’s rising inactivity levels and reintegrating some of its most experienced workers back into work.
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