Despite the wave of boomers returning to work after the Great Retirement, there’s still 2 million more retirees than America’s workforce can handle
Article Excerpt: "...new data from the St. Louis Fed finds that there’s still a lot more retirees than the Fed predicted: about 2 million, to be exact. Now, that doesn’t mean the unretirement narrative isn’t true. Unretirement rates rebounded to pre-pandemic levels as the economy and society began to normalize again. The majority (68%) of pandemic-era retirees reported they’d consider returning to work, per a 2022 CNBC survey. And as the cost of living and life expectancy rises, 20% of retirees continue to work full- or part- time and 7% are job searching, per T. Rowe Price’s recent Retirement Saving & Spending Study. Nearly half of working retirees said they're doing so for either financial reasons or for socio-emotional ones. “It’s extremely scary. We thought that we would be doing some traveling this year, but that’s come to an abrupt halt. ..."
Resource: fortune.com