The new retirement is … no retirement.
Older workers are staying in their jobs later and later. In part because people are living longer so they CAN work longer. And, it’s getting more expensive to retire, so they can’t afford NOT TO work longer.
And of course some people love their jobs, are great at their jobs, and WANT to work longer.
The trend toward later and later retirement is a major labor market development. There are ripple effects. Some younger workers feel blocked from moving up. Some economists say this boosts productivity with skilled workers staying on longer.
So… let’s just say there’s tensions rising. We get into it. On our latest Planet Money podcast episode, “Older workers aren’t retiring. Should they be forced to?” – Listen at the link in our bio or wherever you get podcasts.
Reporter: Sarah Gonzalez
Video Editor: Alex Goldmark
Video Producer: Sam Yellowhorse Kesler