The number of Universal Credit claimants aged over 50 has more than doubled since the coronavirus crisis first emerged, new figures reveal.
A new study has discovered huge numbers of people in this age group have been forced to resort to the welfare scheme because they can't get a job.
More over-50s are claiming Universal Credit than under-25s and the number has more than doubled since March as the pandemic lockdown hit the economy.
But the rising figure does not reveal the true extent of the problem with many over-50s are ineligible for the benefit because they have savings above the £16,000 threshold or have already drawing a pension, reports BirminghamLive.
Back in May 2019, there were 206,502 over-50s on Universal Credit. But by March this year, it had risen to 304,379. And in May the number of claimants had more than tripled over the past year to hit a staggering 659,649.
Jobs and community site Rest Less for the over-50s says nearly 200,000 people over the age of 50 have dropped out of the workforce since the Covid-19 outbreak.
Inactivity levels have increased more in recent months among over-50s than any other age group with analysis suggesting there were 198,000 workers aged over 50 who had become economically inactive since the pandemic began.
Stuart Lewis, founder of Rest Less, said: "In addition to the rapid increase in the number of over 50s who are claiming Universal Credit, these figures come as an alarming additional warning as to the true impact of the pandemic on older workers.
"In the wake of the toughest job market in decades, there has been a significant rise in the number of workers over 50 who have lost hope in finding a job and feel forced into an early retirement that many simply cannot afford.
"With the furlough scheme winding up and 2.5 million over-50s having been furloughed, we expect this to leave a permanent scar on this generation and their employment prospects."
A separate report from the Centre for Ageing Better and the Learning and Work Institute said the number of older workers on unemployment-related benefits has nearly doubled as a result of the pandemic, increasing from 304,000 in March to 588,000 in June.
There was a risk of a second wave of job losses for older workers as the furlough scheme comes to an end in October, the groups warned.
One-in-four older workers have been furloughed, and hundreds of thousands may fidn they do not have a job to return to as some sectors struggle to recover from the crisis, said the report.
Older workers who lose jobs are more likely to slip into long-term worklessness, it was warned.
Anna Dixon, chief executive of the Centre for Ageing Better, said: "Older workers have been hit hard by the crisis, and it's crucial that they are not forgotten in the recovery efforts.
"Without action, we could see many in their 50s and 60s falling out of the workforce years before their state pension age and struggling to get by until they are able to draw their pension."
