Retirees flood job market amid rising inflation

JIMMIE JOHNSON: THE U-S UNEMPLOYMENT RATE CURRENTLY SITS AT 3.6 PERCENT – ROUGHLY 6 MILLION AMERICANS. IT’S ONE OF THE LOWEST RATES WE’VE SEEN IN YEARS. 

AND PART OF WHAT’S DRIVING THAT TREND – FOLKS REJOINING THE WORKFORCE. HENCE WHY, SOME ARE CALLING IT THE GREAT UNRETIREMENT. 

LET’S GET THIS STRAIGHT!

RETIREE: ”I had worked it all out financially. I could afford it. CBS reporter: What happened? Retiree: The economy. (chuckles) Inflation happened. It just kind of overwhelmed me”

AND PATTIE IS NOT ALONE. SHE IS ONE OF THE MILLIONS OF RETIREES HEADING BACK TO WORK DUE TO RISING INFLATION. 

THE RISING COST OF FOOD AND FUEL. THE FEAR OF NOT BEING ABLE TO AFFORD HEALTHCARE COVERAGE. IT’S ALL TOP OF MIND. 

[SOT: LAURA RODRIGUEZ: “what’s going to happen when I get older? How am I going to pay for the care that I need?” 

JIMMIE: TO FOOT THE BILL FOR RISING HEALTHCARE COSTS, RETIREES WHO DON’T QUALIFY FOR MEDICARE JUST YET ARE JUMPING BACK INTO THE LABOR FORCE TO REMAIN COVERED. 

THEN THERE ARE RETIREES WHOSE 4-0-1-K’S WERE ONCE SITTING PRETTY WHEN THE MARKETS RALLIED DURING THE PANDEMIC. THOSE GAINS HAVE SINCE DIMINISHED, FORCING THEM TO RETHINK HOW THEY WILL SPEND WHAT ARE SUPPOSED TO BE THEIR GOLDEN YEARS. 

THREE-POINT-TWO PERCENT OF WORKERS WHO WERE RETIRED A YEAR EARLIER ARE NOW EMPLOYED. SO, HERE’S THE THING – THIS TREND ISN’T ALL THAT NEW. ANALYSTS SAY ROUGHLY THREE PERCENT DID THE SAME THING FROM 20-17 TO 20-19. 

FOR SOME RETIREES – THE PROSPECT OF RETURNING TO WORK ISN’T ALL DOOM AND GLOOM. EXPERTS SAY IT KEEPS THEM INVOLVED IN THE COMMUNITY AND MANY HAVE THE OPTION OF NOT HAVING TO COMMUTE WITH THE FLEXIBILITY OF REMOTE WORK GROWING ACROSS MANY INDUSTRIES. 

SO, IF YOU’RE A BOSS AND ONE OF YOUR MORE EXPERIENCED PEEPS PULL THE RETIREMENT CARD, JUST TELL THEM TO TAKE A GAP YEAR FROM WORK. 

YOU MAY BE SURPRISED AT WHO RETURNS A YEAR LATER.