More and more pensioners are rejoining the workforce for economic and social reasons, an employment expert has said.

It comes after the Central Statistics Office (CSO) found that people aged 65 and over are joining the workforce at the fastest rate of any age cohort in Ireland.

The data shows a total of 113,500 people of pension age were in the workforce in the first quarter of this year - an increase of 23% in the last three years.

Number of persons aged 65 years and over in employment ('000) by quarter. Source: CSO

Futurewise Managing Director Peter Cosgrove told Newstalk Breakfast the most likely reason is economic.

"The cost of living is much more expensive than it's ever been and probably linked to that, pensions aren't as adequate as they used to be 20 or 30 years ago," he said.

"When people are looking at the next however-many-years because they're realising they're living longer, they might realise they may not have enough money.

"The easier way is to go back and work".

'People are living longer'

Mr Cosgrave believes there is a social element to it as well.

"I think the other reason is the kind of more social and emotional reason," he said.

"If you are living longer people are feeling there's a lack of purpose and they're getting a little bit more bored.

"Probably even bigger than that, they have this lack of connection and the fact that they're not seeing a lot of people.

"When people are in the workforce they get to talk to a lot of other people and they feel like they're valued in what they do".

'Patience and empathy skills'

Mr Cosgrave said older workers also offer something unique to employers.

"I know some employers are very interested in them because they offer skills that maybe aren't as easy to get from the 20-year-olds," he said.

"Those kind of listening skills and more patience and empathy and skills that maybe you get through wisdom and long life.

"Maybe, also, not being as connected to your devices can very much help in customer service roles when you're listening to customers".

Mr Cosgrave said he would see the development as positive as "anyone who really wants to work can work at the moment".

He added that it's good for younger people to be working with others "across generations".

Main image: An older woman working in a shop, 14-5-18. Image: Jeffrey Isaac Greenberg 7+ / Alamy