People in their fifties and early sixties are more active in the job market and find work faster than five years ago, but they are still twice as likely to be long-term unemployed, according to a report in De Tijd on Saturday.
The impending redundancies at bus builder Van Hool are projected primarily to impact older workers. Over a third of the staff at the Flemish site are at least 50 years old and unions are worried about these workers’ employment prospects.
Yet, prospects are improving, according to De Tijd’s analysis using figures from the statistical service Statbel and the employment agency VDAB.
Engagement levels amongst Flemish 55-plus workers is rising; by the end of last year, more than 63% of people aged 55-64 years old were employed or available for work. This is a significant increase from early 2017 when only half of this age group was active in the labour market.
There has also been a reduction in the number of long-term unemployed amongst job-seeking over-55s. These accounted for two-thirds at the beginning of 2017 but only approximately 40% now. The label ‘long-term unemployed’ applies to those without work for more than two years.
Despite these improvements, there remains considerable disparity when compared with the younger demographic. In 2023, monthly employment rates for job seekers older than 55 stood at 3.2%, while younger job-seekers moved into employment two to four times more frequently.
