Upskilling vital with employees over-50 most likely to be impacted by unemployment increase predicted for the end of the year

The UK is emerging from its third lockdown, with businesses reopening and more workers returning to the office.

Support measures like the Coronavirus Job Retention Scheme (furlough) have protected more than 11.5 million jobs since the pandemic began, but research suggests that the UK’s current unemployment figure is only set to increase.

Some 2.2 million people, or 6.5% of workers, could be unemployed at the end of the year when the CJRS comes to an end, according to forecasts from the Office for Budget Responsibility. 

This is a significant jump from the latest Office of National Statistics (ONS) unemployment figures that showed 4.8% of employees out of work between January and March 2021.

Research from the Resolution Foundation indicates that employees aged 50 years old and over are the most at-risk demographic of long-term unemployment problems during coronavirus.

Data reveals that just 62% of this age bracket had returned to work after six months of becoming unemployed; a concerning figure when compared to 74% of those aged 16 to 29 and 72% of people aged 30 to 49 over the same 2008 to 2020 period.

Moreover, the ONS has revealed that those aged 50 and above are the most likely to have been impacted by job losses and reduced hours in the past year. 

The figures, which were analysed by leading training providers Virtual College, also indicate that this age group are more likely to report working fewer or no hours as a result of the pandemic than workers under 50. 

Rod Knox, Chief Executive Officer of Virtual College, said:

“Although the Government’s roadmap is going according to plan, we can’t ignore the hard work that businesses still have ahead of them. It is likely that things will get worse before they get better, as businesses potentially look to face a period of redundancies once the furlough scheme ends.

“This is concerning, especially for older workers who have already been greatly impacted by the pandemic, and underlines why upskilling, reskilling, and a focus on lifelong learning is more important than ever. At Virtual College, we know that businesses have relied on training to upskill their staff this past year, and the uptake we have seen of our personal and professional development courses suggests that people are ready to learn and ready to gain those new skills.”

The leading training provider has witnessed a significant increase in the number of people completing their online training courses this year, compared to the end of 2020. In the first quarter of 2021, Virtual College saw an 167% increase in their ‘Resilience’ training course, a 131% increase in the ‘Dealing With Stressful Situations’ course and a 124% increase in their ‘Growth Mindset’ course when compared to previous quarter. 

This uptake, coupled with a predicted unemployment increase towards the end of this year, highlights the importance of having supportive and comprehensive skills training in the workplace, particularly for those in the older age bracket.  

Online training courses can help employees add to their skill set, with many of these courses being CPD certified.

Now, Virtual College is offering a range of their Personal and Professional Development courses for free, including Resilience, Dealing with Stressful Situations and Growth Mindset, which are perfect for older workers who want to maintain and develop their existing skills. 

The leading training provider hopes to help older workers gain valuable skills, knowledge and expand their employment options through a variety of digital learning courses.

Amongst hundreds of useful resources and courses covering a wide range of skills, these courses are ideal for workers who have been affected by the pandemic and are looking to get back into the world of employment.

Virtual College joined the government’s ’An Hour to Skill’ initiative at the beginning of the year, which encourages people to expand their professional abilities with free learning resources from a range of renowned educational institutes.