173 thousand of the 512 thousand people who were unemployed in the third quarter of 2012 were over 45 years old. Their number has increased substantially since 2008. About 15 percent of the unemployed people over 45 gets a new job within three months. Unemployed people under 45 tend to find a new job within three months more often, although their share has been falling since 2008.
Unemployment rising among older people
In the past four years unemployment among people aged 45 to 65 has gradually increased from 93 thousand in the third quarter of 2008 to 173 thousand in the third quarter of 2012. There are now substantially more unemployed people over 45 than in 2005, when unemployment was also high. One aspect is that there are more older people in the labour force now.
Unemployment among 25 to 45 year-olds also rose substantially but has remained below the 2005 level. The increase in unemployment was less drastic in the 15 to 25 age bracket.
Unemployed labour force by age
Older unemployed people have trouble finding a new job
The share of unemployed 45 to 65 year-olds who resume work after a brief period is rather small. About 25 thousand of the over-45s who were unemployed in the second quarter of 2012 had a new job within three months, which constitutes 15 percent. Their share has hardly changed over the last few years.
Over half (56 percent) of the people over 45 who were unemployed in the second quarter of 2012 was still unemployed in the third quarter. About 29 percent had left the labour force during this time, for instance due to health issues or because they had not looked or were unavailable for work.
Younger unemployed people have more trouble finding jobs than in 2008
Younger unemployed people have less trouble finding a new job than older unemployed people. 31 percent of the people aged 15 to 25 and 22 percent of the 25 to 45 year-olds who were unemployed in the second quarter of 2012 found a paid job within three months. Their share has dropped since 2008 though.
Labour position of the unemployed after three months
Robert de Vries