You’ve heard of the Great Retirement, that is, the uptick of people retiring in the U.S. during the pandemic. But who is leading the way of those retiring? Old White women without a college education.
This was revealed in research by the St. Louis Federal Reserve. When looking at the Great Retirement by age, it was largely driven by adults aged 65 and older, while the percentage of people aged 54 to 65 retiring did not change significantly.
As reported in the Financial Post, in the U.S., it’s not uncommon for people to un-retire and return to working. But the Great Retirement that’s come out of the pandemic has changed that; many of those who have retired aren’t looking to return to the workforce; this resistance to returning to the job force is tied to COVID-related health risks, according to research findings from the Kansas City Fed.
For more findings about the Great Retirement, you can read the full article in the Financial Post.