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Increasing state pension age fuels jobs market growth

Increases in the state pension age are believed to be partially responsible for the UK's employment rate reaching its highest rate since records began in 1971.

According to the Office for National Statistics (ONS), the employment rate in the UK reached 76.1% between December 2018 and February 2019.

Men in employment hit 80.5% in the three months to February 2019, while women in employment reached 71.8% over the same period.

The statistics show that more women are continuing to work for longer.

From December 2018, the state pension age is rising for both genders until it reaches 66 in October 2020, and is scheduled to increase to 67 between 2026 and 2028.

The ONS report said:

"The growth in employment was driven mainly by the number of women getting into jobs."

Charlie McCurdy, researcher at the Resolution Foundation, added:

"We have even more evidence the position of women in the jobs market is improving, with a staggering 70% of jobs growth over the last quarter has come from female employment.

"The employment rate for women is at the joint-highest it's ever been."

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