The government is investigating ideas to get middle-aged retirees back into the workforce to stimulate the economy.
The Times says that older adults who have stopped working could be awarded a “midlife MoT” to attract them back into the workforce.
According to the report, the MoT will evaluate finances and employment opportunities.
It follows a recent decision by a House of Lords committee that a wave of early retirement induced by the pandemic had created a severe labor shortage.
The important economic affairs committee studied the increase in economic inactivity – the number of persons who are neither employed nor seeking work – and the rise in job openings since 2020 in its report.
According to the data, economic inactivity has increased by 565,000 people since the beginning of the pandemic.
The report noted that retirement, increased disease, changes in migration, and the aging population of the United Kingdom all contributed to the current labor market pressure.
In October, recent data revealed that roughly 2.5 million people are not seeking employment due to long-term illness, contributing to labor shortages.
The CEO of John Lewis stated in August that the company faced a mass exodus of employees over the age of 50 due to the Covid epidemic.
Tuesday, upon the release of the House of Lords report, Lord Bridges urged the government to do more to boost the economy.
The Department of Work and Pensions responded that it has already increased the Jobcentre midlife MOT program.
Now, a source close to the work and pensions minister, Mel Stride, has told the Times that he is likewise eager to discover novel measures to combat economic inactivity.
He said that he met with Prime Minister Rishi Sunak before the holiday break to discuss plans.
As early as spring, a public information campaign aimed at those over the age of 50 might be launched.
A Downing Street source told that measures are in the works to reintegrate older workers into the workforce, but that no decisions have been made as of yet.
