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Retirees Returning to the Workforce—Can Older Americans Resolve the Labor Shortage?

Retirees Returning to the Workforce—Can Older Americans Resolve the Labor Shortage?
A 'now hiring' sign is posted at a Home Depot store in San Rafael, Calif., on Aug. 5, 2022. Justin Sullivan/Getty Images
Andrew Moran
Andrew Moran
3/7/2023|Updated: 3/7/2023

The U.S. labor shortage will not be easing up any time soon, warned Federal Reserve Chair Jerome Powell in November. One of the reasons for the immense gap in the national job market has been the surge in retirements since the beginning of the coronavirus pandemic.

A Nov. 2022 report by the central bank revealed that the retired share of the U.S. population, which was more than 1 percent above the pre-pandemic level, has accounted for almost all of the shortfall in the labor force participation rate.
Andrew Moran
Andrew Moran
Author
Andrew Moran has been writing about business, economics, and finance for more than a decade. He is the author of "The War on Cash."
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Related Topics
inflation
retirement
labor shortage
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