Share that says they will work past age 62 is down 5 percentage points.
Retiring early is becoming the norm as the share of US workers planning to work beyond age 62 continues to retreat, extending a downshift that started with the pandemic. The share of people who say they will likely be working full-time after age 62 dropped to 45.8% in March, according to Federal Reserve Bank of New York research examining labour market and consumer expectations surveys. That’s the smallest share in data back to 2014.
Pandemic-induced change in retirement expectations may continue to affect the labour market in years to come,” the report’s authors said. The reasons for the shift are numerous and wide-ranging. Everything from health concerns, helping to care for grandkids, and a general disengagement with work have been cited.
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