In Wales it's estimated that older workers contribute £1 billion pounds a year to the Welsh economy.
But for workers who lose their jobs at this age it's harder to find new work - with 43% still unemployed after a year, compared with 26% of 18-24 year olds.
The Welsh Government says Employers in Wales must recognise the importance of recruiting and retaining older workers.
This week it launched a new campaign, entitled 'People don't have a Best Before Date', to challenge stereotypes and to demonstrate the value of a multigenerational workforce.
It comes as figures from the charity Age Cymru reveal people over the age of 65 contribute £1billion a year to the Welsh economy - that's the equivalent of £2.9 million a day.
The charity also found workers aged between 50 and 65 make up over a quarter of the UK's workforce, and that people who lose their jobs at this age can find it harder to find work.
As part of the campaign, the Welsh Government has teamed up with other organisations including the Older People's Commissioner for Wales.
Minister for Skills and Science Julie James said older workers are vital.