Peter Hoskin

Older generations doing their bit to stave off the credit crunch

Older generations doing their bit to stave off the credit crunch
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As Larry Elliot reports in today’s Guardian, a rise in the number of over-50s gaining employment has "helped Britain shrug off the impact of the credit crunch".  Recent figures from the ONS reveal that, in the three months to November, 175,000 new jobs were created in the economy, with an astonishing 90,000 – some 51 percent – of them being taken by those over 50 years-old.

However, the surge in over-50s employment may not be all good news, as it’s not unthinkable that underlying economic problems are behind it.  After all – with private sector pensions being so uncertain; house prices falling; and the prices of consumables ever-inflating – the over-50s may be looking to increased employment as a means to get them out of their financial predicament.  I’d certainly be interested in hearing Coffee-Housers’ thoughts on the matter.  

P.S. For a bit of background reading, Elliot has also written an excellent article on the credit crunch and its associated problems.