The Gray Resignation Continues
January 2022
America has seen an uptick in the number of seniors leaving full-time jobs. Pew Research Center data shows that 50.3% of adults older than age 55 were retired in the third quarter of 2021, a 2.2% increase from 2019. Among those aged 65 to 74, there was a 3% increase in that two-year period; by Q3 2021, two-thirds of adults in this age bracket defined themselves as retired. This is quite a different story than the one we saw during the 2007-2009 recession, when the rate of retirement declined in America.
Why are more Americans retiring? One reason may simply be rising asset values. Now factor in the trend of working from home, and the way COVID-19 has encouraged people to rethink their priorities in life. If you are part of the "gray resignation" or want to join its ranks, it may not be so hard to reenter the workforce if that need (or want) arises. Currently, companies are struggling to attract enough job candidates to their hiring calls.3
CITATIONS. 3 - Nasdaq.com, December 21, 2021