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oldies have a crucial role in helping the economy
For the first time, there are more than 1 Million over 65s in work in UK, which reflects personal choice for some but financial necessity for many. (Office of National Statistics, June 2013). And this trend is helping to meet a crucial economic need in UK.
The Dept of Work and Pensions comments that enabling older people to stay in work is crucial to the economy and to pensions sustainability, as well as to the financial health and social wellbeing of individuals. Despite current unemployment UK does not have enough people to do the jobs that will be available. It is estimated that there will be 13.5 million vacancies in the next 10 years, but only 7 million young people leaving school and university. Meanwhile the Government is planning to reduce net immigration to below 100,000 a year.
The rise of numbers of over 65s is partly because more people are staying on in work, but also because the are more people in this age group in the population.
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