{"id":72476,"date":"2021-02-18T10:45:05","date_gmt":"2021-02-18T10:45:05","guid":{"rendered":"https:\/\/secondchargemortgageuk.com\/?p=72476"},"modified":"2021-02-18T10:45:08","modified_gmt":"2021-02-18T10:45:08","slug":"redundancies-among-over-50s-increase","status":"publish","type":"post","link":"https:\/\/secondchargemortgageuk.com\/redundancies-among-over-50s-increase\/","title":{"rendered":"Furlough warning as redundancies among over-50s increase 240%"},"content":{"rendered":"\n<p>The number of redundancies among over 50-year-olds increased by 240% last year, new figures suggest.<\/p>\n\n\n\n<p>The total rose from 35,000 at the start of 2020 to 121,000 by the end of the year, according to an analysis by Rest Less, which offers advice to older 50s.<\/p>\n\n\n\n<p>Redundancy rates for the over 50s have climbed from 4.2 per 1,000 employees in January to March 2020 to 14.4 in September to November, said the report.<\/p>\n\n\n\n<h3>The study added that 25-34-year-olds have been hardest hit by redundancies so far.<\/h3>\n\n\n\n<p>Stuart Lewis, founder of Rest Less, said: \u201cWith businesses suffering in the wake of the pandemic, we knew redundancies were going to be high as furlough was originally scheduled to end last October.<\/p>\n\n\n\n<p><em>To find out more about how we can assist you with your Second Charge Mortgage please <a rel=\"noreferrer noopener\" href=\"https:\/\/secondchargemortgageuk.com\/contact-us\/\" target=\"_blank\">click here<\/a><\/em><\/p>\n\n\n\n<p>\u201cEven though redundancy rates amongst the over 50s have never been this high, our concern is that there is worse still to come with more than 640,000 over 55s still on furlough.<\/p>\n\n\n\n<p>\u201cThe biggest challenge for the over 50s is not redundancy or furlough rates, but rather it\u2019s what happens when talented workers in this age group move from paid employment to job seeking status.<\/p>\n\n\n\n<p>\u201cThe recruitment process is where age discrimination bites hardest, particularly at this time when the pandemic has exacerbated existing inequalities in the workplace.\u201d<\/p>\n\n\n\n<p>A Government spokesman said: \u201cOlder workers are a vital asset to this country and hugely employable, which is why our Plan for Jobs is delivering tailored support to help them back into work and retrain into new industries.<\/p>\n\n\n\n<p>\u201cWe are increasing the number of frontline work coaches by 13,500, offering bespoke support to ensure people find a job that\u2019s right for them, helping over 50s retrain on our sector-based Work Academy Programme, and our new \u00a32.9bn restart scheme will see people across the UK who have been out of work for at least 12 months get back on the job hunt.\u201d<\/p>\n\n\n\n<p><em>By Neil Shaw<\/em><\/p>\n\n\n\n<p>Source: <a rel=\"noreferrer noopener\" href=\"https:\/\/www.walesonline.co.uk\/news\/uk-news\/furlough-warning-redundancies-among-over-19838960\" target=\"_blank\">Wales Online<\/a><\/p>\n\n\n\n<p><em>Discover our <a rel=\"noreferrer noopener\" href=\"https:\/\/secondchargemortgageuk.com\/\" target=\"_blank\">Second Charge Mortgage Broker<\/a> services.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The number of redundancies among over 50-year-olds increased by 240% last year, new figures suggest. The total rose from 35,000 at the start of 2020 to 121,000 by the end of the year, according to an analysis by Rest Less, which offers advice to older 50s. Redundancy rates for the over 50s have climbed from [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":72323,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mi_skip_tracking":false},"categories":[1978],"tags":[2111,2153,2073],"yst_prominent_words":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v14.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Redundancies among over-50s increase 240%, new figures suggest<\/title>\n<meta name=\"description\" content=\"Redundancies among over-50s have climbed from 4.2 per 1,000 employees in January to March 2020 to 14.4 in September to November, said the report.\" \/>\n<meta name=\"robots\" content=\"index, follow\" \/>\n<meta name=\"googlebot\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta name=\"bingbot\" content=\"index, follow, max-snippet:-1, max-image-preview:large, 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