For the past two decades Americans have been putting off retirement and working longer. But according to Jed Kolko in a recent New York Times article, the retirement rate jumped up among people 65 – 74 by 65.6% in March – compared to March of 2020.
In March 2020 the retirement rate among this cohort was 64.0%. Pandemic shutdowns and job loss or lay-off may have induced many who were contemplating retirement to go ahead and make the move. Older workers certainly were more at risk than workers not yet prepared for retirement.
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