This is a rather surprising graphic for me. There are so many who are “retiring” early, I don’t quite understand who is taking these jobs ... perhaps there are many in the 55+ group who have taken 2+ jobs to replace their previously good-paying single job of the Bush years.
The writer’s explanation is many of these retire-able workers have chosen to stay on because they can’t afford to retire.
Their 401K’s have been devastated by the market downturn and they can’t live off the puny interest they get from their savings.
I think you’ll find that the older population is taking mundane bag-boy type jobs. They’re not working as engineers anymore. Every company I’ve worked for has had a mandatory retirement age. They’re working because their “retirement” assuming they have any, won’t cover their expenses. There are now a huge number of part time positions available because Obamacare had caused companies to limit time worked to 28 hours.
Wallyworld
Yep, that’d be me. If there was some sort of return on savings and investments, I’d go fishing tomorrow, but since there is not, I keep slaving at it, 70+ hours a week.
Sorry young’uns. Uncle Ben moved my cheese.