At any given time, a large pool of people ages 55-70 – over 15 million today – indicate they are retired. With the U.S. economy currently facing a labor shortage, the potential return of these retirees to the workforce is an important question.
The Center for Retirement Research at Boston College published a new report that offered the following insights:
- “Unretirement” trends in recent decades indicate that reentry rates are low in any given year, but are somewhat responsive to tight labor markets;
- Thus, today’s high rate of job openings should convince some retirees to come off the sidelines, though the number will likely be small relative to the shortfall; and
- In the current climate, one factor that could potentially lead to more unretirements than anticipated is the increased ability to work remotely.
For more details, read the full version of the report.