A new joint initiative by the federal and Ontario governments will help unemployed older workers develop new skills that will help them find jobs, federal Human Resources and Development Minister Diane Finley said Tuesday.

Finlay said the Targeted Initiative for Older Workers will provide training to 5,000 older workers in Ontario over the next three years.

"When Canadians, including older workers, lose their jobs, we want to help them get back into the workforce as soon as possible," Finley said.

“Every region has different needs, and that is why we are working closely with Ontario to ensure that older workers can access the support, training and skills development opportunities they need to find jobs and adapt to the changing economy."

The $58.5 million program will target unemployed workers aged 55 to 64 who live in communities that have experienced significant job losses.

Launched in 2006, the Targeted Initiative for Older Workers is a joint initiative between the federal government and the provinces and territories.

The federal government is also making an additional $60 million available to train older workers across Canada as part of its economic stimulus funding.

“The extra $60 million is important because it will allow us to help some 6,000 older workers get the skills they need in order to stay in and return to the labour market,” Finley said.

According to the federal government, more than 6,000 workers across Canada have already participated in the skills training program.