Goldman just figured out why the labor shortage will last for a long time: 60% of the missing workers retired, many for good

Yahoo! News ^ | 11/12/2021 | Juliana Kaplan, Madison Hoff

[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.

[2 Kool 2 Be 4-Gotten]

First take - those folks at GS must be some real geniuses to figure this out.

Second take - nobody wants to work any more. This is probably not a good thing.

[Harmless Teddy Bear]

And this is a bad thing? Because?

Don't know.

They were bitching about all those old people having all the good jobs and not retiring and making room for the youngers.

Now they have done so.

Might be a case of "careful what you wish for".