Wasted talent as one in three over-50s dumped on the jobs scrapheap

NEARLY one in three older Scots is spending their final working age years on the unemployment scrapheap, a report has revealed.

A study by business services firm PwC shows that 31.2 per cent of Scots aged 50 to 65 are out of work.

This is higher than the rate in England and across the UK as a whole.

The report also showed that getting older workers back into employment could provide an £80billion boost to the UK economy.

Dean Lockhart, economy spokesman for the Scottish Tories, said: ‘This report shows just how much of a positive economic impact could be made by getting more of those aged over 50 back into work.

‘There’s clearly more we could be doing to improve in Scotland, especially with employment on the whole being lower than in the rest of the UK.

‘With a rapidly changing economy, the ability of older generations to retrain is becoming increasingly important. That’s why the SNP’s decision to cut 152,000 college places over the past ten years has been so damaging for Scotland’s economy.’

PwC’s new Golden Age Index shows that the employment rate for 50 to 65-year-olds in Scotland is 68.8 per cent, compared with 70.6 per cent in England and a UK average of 70 per cent.

In Sweden, employment rates are 12 percentage points higher than in the UK. Iceland, New Zealand and Israel are also cited in the report as countries which make the best use of older workers.

John Hawksworth, PwC chief economist, said: ‘While the UK’s absolute performance in our Golden Age Index has improved over time, it’s still scoring below the OECD average.

‘As the number of people over 55 continues to grow steadily and life expectancy increases, the UK needs to make it as easy as possible for people to continue working for longer if they wish to do so. This would boost both GDP and tax revenues, so helping to pay for the increased health, social care and pension costs of an ageing population.

‘Looking at employment rates across the UK... regions with fewer older workers with university degrees and a larger gap between male and female employment tend to have the lowest employment rates for older workers.’

The report will add to concerns about Scotland’s economy, amid fears GDP figures to be published this month will reveal the country has plunged into recession.

A Scottish Government spokesman said: ‘The foundations of Scotland’s economy are strong – we remain one of the most prosperous parts of the UK outside London, while last year was a record-breaking year for foreign direct investment into Scotland. Those aged 50 to 64 have particularly benefited from this, with employment among that age group rising by 23,000 over the year to April 2017.

‘Furthermore, our unemployment rate has fallen to match the lowest on record.

‘From April 2018, our devolved employment support service Fair Start Scotland will target support towards those who are disadvantaged in the labour market, including disabled people or those at risk of long-term unemployment.

‘Unemployed older workers who want to work will be eligible to

‘Clearly more we could be doing’