Older Americans Are Leaving the Labor Force at an Alarming Rate

Older Americans Are Leaving , the Labor Force at an Alarming Rate.

CNN reports the COVID-19 pandemic has accelerated retirement for many Americans.

CNN reports the COVID-19 pandemic has accelerated retirement for many Americans.

Each month since July, over 4 million Americans quit their jobs.

According to research conducted by Goldman Sachs, almost 70% of those who quit jobs during the pandemic were 55 or older.

Experts worry that many of them don't intend to return to work.

Part of it is a job quality shortage.

, Aaron Sojourner, labor economist, University of Minnesota's Carlson School of Management, via CNN Business.

Part of it is a job quality shortage.

, Aaron Sojourner, labor economist, University of Minnesota's Carlson School of Management, via CNN Business.

Economists say early retirement among high-income earners may stem from the inflated price of real estate and the strong stock market.

Economists say early retirement among high-income earners may stem from the inflated price of real estate and the strong stock market.

We already saw a large portion of the Boomer workforce retiring.

And they're in a better position now.

, Nela Richardson, Chief Economist ADP, via CNN Business.

In November, 3.6 million people who had quit the labor force said they weren't looking for a new job.

90% of those who had given up looking for new work were aged 55 and older.

90% of those who had given up looking for new work were aged 55 and older.

I think a lot of the narratives imagine prime-age workers as being missing, but it actually skews much older.

, Aaron Sojourner, labor economist University of Minnesota's Carlson School of Management, via CNN Business.

I think a lot of the narratives imagine prime-age workers as being missing, but it actually skews much older.

, Aaron Sojourner, labor economist University of Minnesota's Carlson School of Management, via CNN Business