To Retire or Keep Working after a Pandemic?

RePEc Short ID: ppe260
ORCID iD: 0000-0002-2216-110X

Miskanic, Brandon E.; Petrosky-Nadeau, Nicolas; Zhao, Cindy

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;