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

[GSWarrior]

I’m one of them…..I go on SSN on Feb. 1.

I’m cashing in.

[Steven Scharf]

And this is a bad thing? Because?

[eyeamok]

Don’t forget about the Million or so that disappeared from the workforce through excess death’s since March this year

[brownsfan]

Hanging in until 6/2/22 if I can.

[phoneman08]

Mee too!

COVID accelerated my retirement by two years.

[Wonder Warthog]

I certainly did. Worked part time for “early retirement” from 55, and then fully when I hit seventy (four years ago).

[ChronicMA]

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.

[GOPJ]

The people pulling the wagon up the hill looked back and realized their sacrifice was for nothing...

The ‘elites’ are going to be the ones hurt in the long run... and that’s a good thing.

[CFW]

What a minute! You mean one of the “experts” has just now thought of this possibility? I figured this out over a year ago. The older than 55 population has been told repeatedly that we are useless and no longer needed because the younger folks can handle it.

So, the engineer that has the expertise, and the plant worker that knows which part of a machine needs replacing every six months, and the elderly office manager that knows when every report needs to be filed, have retired and are now out of the work force. Most that remain are hires that check the correct boxes but who actually have no clue when it comes to performing the actual work required. Good luck!

[ealgeone]

I wouldn’t say you’re cashing in on SS.....you’re getting about a third of what you could have earned if you’d been able to invest it on your own.

[seowulf]

I’ve been hearing for years that there is going to be a boomer retirement boom in the 2020s, and now there is.

Somehow now it’s a surprise, and it should be no surprise I’m not going back either.

[ealgeone]

And probably fed up with the wokeies in the office.

[PTBAA]

“And this is a bad thing? Because?”

Have you seen the current crop of Americans entering the workforce?

[IamConservative]

My job was ended by COVID short of my 59th birthday, I’m not going back to work.

[Not A Snowbird]

My husband retired on Friday. He hasn’t been this happy in years.

[Bernard]

I retired from full-time in August 2020, and now I'm part time because:

Medical costs, especially name-brand meds,

The grand-children are over all the time, and they empty the pantry like locusts,

My wife and I are married, but not for 24/7

[KarlInOhio]

A few years of Bidenflation should wipe out their savings and drive them back to work. Maybe jack up Social Security age to 70 to help them make that decision.

Work! Work! You have a lot of people on welfare to support.

[HartleyMBaldwin]

I decided on my retirement date just about the time the whole COVID-19 nonsense was getting underway, and left at the end of July 2020. Everything I’ve seen since then makes me glad I did, even if I’m not as well-positioned financially as I might like. We will get by.

I might work again part time somewhere, but not at any job that involves any form of mandatory masking or “vaccination”.

[T.B. Yoits]

I've seen many retirements and many were experts who had it dealing with failures and broken processes. COVID-19⁸⁴ and the lockdowns didn't create the failures but certainly brought them to the surface. Every jig-rigged process starting failing and many employees who'd been sounding the alarm to deaf ears for years just walked away.

They're not coming back either; it's too large a job to fix problems, especially systems and data problems, all to just break even (versus improving things). As multiple companies try at the same time to fix their decades of problems, the demand for talent far exceeds the available staff. The illegal aliens the Xao Bai-Din administration is bringing in isn't going to help either.