Olde Hornet
Well-Known Member
How millions of jobless Americans can afford to ditch work
How millions of jobless Americans can afford to ditch work
One of the more insidious myths this year was that young people didn't want to work because they were getting by just fine on government aid. People had too much money, went the narrative.
www.cnn.com
One of the more insidious myths this year was that young people didn't want to work because they were getting by just fine on government aid. People had too much money, went the narrative.
Only trouble is, the numbers don't back it up.
Instead, early retirement — whether forced by the pandemic or made possible otherwise — is playing a big role in America's evolving labor market.
People have left the workforce for myriad reasons in the past two years — layoffs, health insecurity, child care needs, and any number of personal issues that arose from the disruption caused by the pandemic. But among those who have left and are not able to — or don't want to — return, the vast majority are older Americans who accelerated their retirement.
Earlier this month, ADP Chief Economist Nela Richardson said the strong stock market along with soaring home prices "has given some higher income people options. We already saw a large portion of the Boomer workforce retiring. And they're in a better position now."