Largest increase in unemployment for those over 60

Female teacherFemale teacher.Photo: NTB scanpix

Unemployment among those over 60 has increased by nearly 30 percent since 2014, according to new figures.

The growth in youth unemployment over the same period is less than five percent,  the Center for Senior Policy writes.
A new report prepared for the Centre for Senior Policy shows that if people aged 58-62 years reduces their labor participation as a result of these developments, this could equal 30,000 lost man-labor years and a loss of value to society of 16 billion kroner.
The Center for Senior Policy warns against using readjustments to phase seniors out of the workplace.
– That will run counter to  the political goal of pension reform, which is to ensure that people are in work longer. Severance packages are often used to make the process of downsizing run more smoothly. For seniors, it is often harder than they think to get a new job after they have received the severance package. For the oldest workers  a severance package can mean that they are phased out of the labor market prematurely,  Director Kari Østerud in the Centre for Senior Policy says.

Source: NTB scanpix / Norway Today

1 Comment on "Largest increase in unemployment for those over 60"

  1. I hope unemployment will go down in Norway… I love Norway and would like to spend the rest of my life there.

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