Britain must find ways to encourage older workers back into the labour force

The problem of economic inactivity and ill health among workers over 50 cannot be ignored, for economic and moral reasons, writes James Moore

UK unemployment is set to rise, according to the Bank of England (PA Wire)

Unemployment is back. It’s a word we’d almost forgotten, just like inflation was a word we’d almost forgotten until it crashed into the economy with devastating force.

The two are linked: price rises are playing a major role in Britain’s economic woes, forcing the imposition of higher interest rates, which will slow an economy already teetering on the edge of a recessionary abyss.

Higher unemployment, a lagging indicator, will follow. How bad could it get? According to the Bank of England’s most recent (grim) economic forecasts, we might be looking at 6.5 per cent before too long. That looks unpleasant until you realise that it’s actually below par for the last 50 years or so, during which time the rate of unemployment averaged just below 7 per cent.