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$30m boost to Coast for hiring older workers

RAI releases stats.

$30m boost to Coast for hiring older workers Regional Australia Institute

The Regional Australia Institute is calling on employers on the Coast to give older workers more of a chance.

It's revealed new research this morning, showing 20% of the population is reliant on the aged pension in some parts of Australia.

The report suggests just a 3 per cent increase in 55-64 year olds in the participation rate of the Central Coast's workforce could increase local spending by $33 million a year.

RAI's research shows currently only 55% of this ten year age group is in the workforce, and only 31% of them full time.

Around one in every three coasties currently is over 55, while the Human Rights Commission suggests that by 2050, around one quarter of all Australians will be aged 65 years and over.

The Institute warns "if the Australian workforce neglects to engage mature age workers, the result will be lower growth, lower incomes and a higher welfare and services bill".

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