Part 2: Changes in the Unemployment Rate among 50-64 year olds

The New Zealand unemployment rate for workers aged 50-64 has consistently been below the average unemployment rate for all ages over the 1991-2005 period. However, it needs to be kept in mind a lower unemployment rate for older workers relative to younger workers does not necessarily mean that older workers face a lower risk of job loss than younger workers. It may instead reflect that older workers are more likely to withdraw from the labour market altogether following job loss (OECD 2005).

Figure 7 shows the female and male unemployment rates compared to the all ages unemployment rates. The unemployment rate fall for 50-64 year olds has remained lower than the national average, and in September 2005 stood at 1.5% and 1.9% for females and males respectively, compared to a total rate of under 4%. Over this period, the overall unemployment rate has moved down towards the very low unemployment rate of the older population.

Figure 7: Unemployment rates, by age and gender