Nearly Half Over-50s Who Quit Work During Covid Now Live “In Poverty”
It was dubbed the ‘great retirement’, but new analysis shows that half the older people who dropped out of the workforce at the start of the pandemic found themselves struggling financially. The Mail has more.
New analysis has found that 48% of the 50- to 70-year-olds who left employment in 2020-21 ended up in relative poverty.
The Institute for Fiscal Studies (IFS) think-tank said the figure is “significantly higher” than the proportion who quit before the pandemic, suggesting they were forced into early retirement by lockdown and health risks.
It will put extra pressure on Chancellor Jeremy Hunt to succeed in his attempts to get large numbers of over-50s back to work by offering them so-called midlife MOTs and apprenticeships for new careers.
A massive 3.5 million 50 to 64-year-olds were out of work and not looking for new jobs between November last year and this January, official figures show, a rise of 280,000 on the same period three years earlier before Covid arrived in the the U.K.
Xiaowei Xu, a senior research economist at the IFS, said: “It is often assumed that older people who left the workforce during the pandemic were wealthy individuals retiring in comfort.
“Our analysis shows that those who left in the first year of the pandemic experienced a sharp rise in poverty, despite overall poverty rates falling that year, and also suffered large falls in well-being.
“Some of this group might well be amenable to coming back into the workforce with the right opportunities, and there are signs that some are returning already.”
Turns out you can’t live in lockdown forever.
Worth reading in full.
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“…found themselves struggling financially.”
Could say that about 95% of people – before, during and after the Plandemic™ and before, during (and after!) “retirement”.
Bad news from Switzerland as the data show there’s an increase in many serious diagnoses compared with pre-Death Vax years;
”Increases of severe diagnoses in 2021 compared to the mean of the years 2016-2020 in Switzerland based on the diagnostic codes in hospitalisations
0 – 14 yo
– Various malignant tumours: +249%
– Pulmonary embolism, cardiac arrest & stroke: +125%
15 – 39 yo
– Myocarditis: +99%
– Intracerebral hemorrhage: +64%
– Various types of cancer: + 48%
All ages
– Autoimmune diseases: +40%
– Damage to the nervous system: +29%”
https://twitter.com/Thomas_Binder/status/1677015543050543104
Unfortunately the document is in German but the graphs are pretty easy to understand;
https://www.wissenschaftstehtauf.ch/Schweizer_Zahlen_Eintauchen_in_die_Covid_und_Post_Impfstatistiken.pdf
Thanks for keeping everyone on track, Mogs. You do a fine job. After all, it’s why we’re all here, and why this website and the journalistic endeavour it represents came into existence.
Wissenschaft steht auf – if only, eh…
Absolutely.. a fine job indeed..
No problemo Will and Marcus, and cheers to all other contributors also. Always a pleasure, never a chore. 😊
Mogs – I rest my case.😘
Cheers wor hux. 🙂
👍
Hi Mogs. Thankyou for this.
I have been looking for a specific bit of data and so far I have failed. Stroke in a healthy mid 50s male with no family history.
4 vaccinations and Covid x2.
I ask because it happened to someone very close to me this week.
Any suggestions?
Crikey, sorry to hear this. Not quite clear what you’re asking of me. Do you mean in relation to treatment protocols going forward? I know BB has extensive experience with stroke sufferers during her career. Perhaps she can be more help in relation to this situation specifically. Or do you mean you’re interested in data linking the jabs to incidences of stroke?
Hey DJ, so this may or may not be of interest to you. I didn’t read the full paper though there are several more related papers listed underneath this abstract; ”Following the COVID-19 virus epidemic, extensive, coordinated international research has led to the rapid development of effective vaccines. Although vaccines are now considered the best way to achieve collective safety and control mortality, due to the critical situation, these vaccines have been issued the emergency use licenses and some of their potential subsequence side effects have been overlooked. At the same time, there are many reports of side effects after getting a COVID-19 vaccine. According to these reports, vaccination can have an adverse event, especially on nervous system. The most important and common complications are cerebrovascular disorders including cerebral venous sinus thrombosis, transient ischemic attack, intracerebral hemorrhage, ischemic stroke, and demyelinating disorders including transverse myelitis, first manifestation of MS, and neuromyelitis optica. These effects are often acute and transient, but they can be severe and even fatal in a few cases. Herein, we have provided a comprehensive review of documents reporting neurological side effects of COVID-19 vaccines in international databases from 2020 to 2022 and discussed neurological disorders possibly caused… Read more »
Why would people work and pay 50% tax to a govt which is importing millions who push up house prices for our kids and lower their wages, while services are now the worst in living memory? The social contract has been broken by political parties who treat us like ignorant slaves while stealing the riches of this country.
There is no such thing as relative poverty. Poverty is severe material hardship and hasn’t existed in this country for many decades other than in cases of abuse and neglect. Relative poverty is a term coined by leftist activists to give a veneer of respectability to their socialist campaigning for equality of income.
People who retire early are typically going to be less wealthy than if they continued working. So what? They presumably took the decision because they valued more spare time and avoidance of work-related misery more than they valued the income. Every missive I receive from the Human Resources or Communications functions at work makes this choice seem ever more reasonable.
Yep, that’s basically what I was at.
I’m in my mid 60’s. My income, currently made up of a casual job and small pension is low, but so are my living costs. I live a fairly simple life; I’ve never been a “spender.”
I have substantial savings; another pension I’m not claiming and a BtL which is currently empty and on the market but I may keep and rent out again.
Not working and a small income is fine, if you have assets to support the choice. I don’t pay NI, I only pay a little Income Tax IF I have a tenant. I’m enjoying (legally) depriving this appalling government of as much of my money as I possibly can.
How can anyone survive without multiple holidays abroad per year, at least one flash car (ideally electric) and all food delivered ready prepared?
I forgot all coffee in a cardboard cup.
You’re not considering the unknown number of people who were forced out of work because they didn’t take the jab – whether through mandate or extreme workplace coersion – or who had to leave work because of jab damage. We also have to consider those who are now victims of wokespeech persecution, being ‘let go’ for saying the ‘wrong’ thing. Not everyone ‘retired’ through choice.
I can name several carers and a psychiatric nurse who were forced out or had their contracts allowed to lapse. So when you hear there is a shortage of such people you can see why