Journal Article

To Retire or Keep Working after a Pandemic?

Abstract: Workers age 55 and older left the labor force in large numbers following the onset of the COVID-19 pandemic. Four years later, participation within this age group has yet to return to pre-pandemic levels, despite the strongest labor market in decades. This has resulted in an estimated shortfall of nearly 2 million workers. Analysis shows that the participation shortfall is concentrated among workers in this age group without a college degree and can be explained by increased and growing retirement rates for this group, above pre-pandemic trends.

Keywords: pandemic; covid19; retirement; labor market; labor force participation;

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Bibliographic Information

Provider: Federal Reserve Bank of San Francisco

Part of Series: FRBSF Economic Letter

Publication Date: 2024-03-25

Volume: 2024

Issue: 08

Pages: 5

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