Posted on 11/14/2021 7:56:38 AM PST by millenial4freedom
Reports of labor shortages may not end anytime soon because a hefty number of retirement age workers have left the labor force - and a whole lot of them may not be coming back.
A Friday note from Goldman Sachs researchers led by Jan Hatzius finds that 3.4 million of the people who left the labor force - meaning they're not working or aren't actively looking for work - are over 55. Roughly 1.5 million of them were early retirements, and 1 million were normal retirements. Those two groups of retirements "likely won't reverse," meaning that, out of the five million workers Goldman estimates are still missing from the labor force, about half may not ever return.
(Excerpt) Read more at yahoo.com ...
Anyone over 55 has ageism working against them.
Employers usually don’t want to hire older workers because of the health care costs and they figure that they won’t be around very long anyway.
That B$ started in the 1970’s with the “If you were 40, you went up or out of the Company, with a large % of companies.
I think that is part of their plan already
In an inflationary environment all the market forces get disrupted, and it is very difficult (and in some cases impossible) to figure out what the market really is—businesses are stuck with learning from trial and error.
Retirement kills
I’m expecting my third grandchild soon, and my wife and I plan to retire into a new career of “grandparent day care and homeschool teachers”
Can these Goldman Sachs researchers comprehend the expression “Gone Galt”?
Congrats!
Ummm...I predict that many of them WILL reverse when they get done diminishing the buying power of said retirees’ income.
I also predict that a looming crisis exists as a result of “inflation migration”...effects of which on liberal urban centers which will merit popcorn & beer.
Now, in addition to these millions who have ALREADY retired, let us add the Dec 08 (Wait, now it is January 5!) forced/mandated/enforced/voluntary “retirees” (er, fired) workers who left rather than puking up with Biden’s disastrous mandatory vaccine policies.
Many in my company are just saying, “Fine, you demand vaccines, I retire.”
The sort of personality who is most needed to make companies work are the same people most likely to quit rather then get the Jab
Corps are going to have almost no chance to replace them. A record number of Americans quit their jobs in Sept
The rule about the “Consent of the Governed” still apply to the USA.
Wait until the power plants, food processing, loading, manufacturing and production plants break down.
“work poor ol’ Boxer to death and secretly spirit his carcass away to the knackers”
They take them to Elmer’s farm. Life is so good there no one ever wants to come back.
Thanks RACPE. Getting all those domestic terrorist white supremacist cisgender bigots to retire is a win-win, both for the DNC attempting to coopt BLM and Antifa, and for the DNC's Chinese allies/masters.
I live in Maryland where a huge chunk of the “work” force consists of FEDERAL EMPLOYEES and FEDERAL CONTRACTORS. From what I understand, many of these people are still working from home most (or all) days.
I’m sure many of these federal employees have found pretending to work at home easier than pretending to work while physically present at their employer’s location. Once they are FINALLY required to go back to their offices, many who may have deferred official retirement during the “arduous” work at home period (it’s likely better to get FULL SALARIES while staying at home than to get the lesser retirement payments while staying at home) will finally retire. I suspect we’ll be reading about a government retirement wave at that time.
EVERYTHING BIDUNG does backfires on him......spectacularly.
health care can be a big expense for those who retire before age 65. Your employer will no longer be there to contribute to premiums.
>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>
I was fortunate. Retired at age 54 in 1999 and my employer paid 100% of my premiums plus a nice private pension. They started requiring a small partial premium from me around 2005. It has grown to around $250 per month now as my secondary and my 23 year old daughter’s primary. They also refund my Medicare premiums.
I told you upfront I was fortunate. I thank God for it.
I’m one too.
I told them I’m moving to Florida and I did. They still pay me because they can’t do without me, even after nearly 8 months.
After working the entire pandemic in person, assuming duties of several people and getting a $50 gift card as thanks?
So long and thanks for all the fish.
While I’ve visited the main office a few times since moving, I can live mask free in Florida and do much of what I did remotely. Eventually I’m gone, but not going to get another 7-4, hell commute type job again for any reason.
That is a very true statement. I see a lot of senior leaders learning for the first time, but too late, which employees actually made things work. We've had a lot of retirements and they're not able to hire replacements. The workload is getting ridiculous because their only option is to spread the missing staff members' work amongst the remaining staff.
I will retire next Friday. I have enough saved.
The company I work at is closing the Help Desk I am in and moving it to Poland.... Of the 11 people on the west coast help desk I am the last one who would be in the office as everyone else either quit or moved out of state. The replacements are from capgemini and not hired locally.
You and your wife have been blessed - thanks for sharing.
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