Old song concerning an idler (8)

I believe the answer is:

layabout

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'an idler' is the definition.
('layabout' can be a synonym of 'idler')

'old song concerning' is the wordplay.
'old song' becomes 'lay' (poetic term for a song. I am not sure about the 'old' bit.).
'concerning' becomes 'about' (about can mean concerning or relating to).
'lay'+'about'='LAYABOUT'

Can you help me to learn more?

(Other definitions for layabout that I've seen before include "wastrel" , "Idle person" , "lazy fellow" , "dosser" , "work-shy type" .)

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