Unretirement is once again trending up and returning to levels that we haven’t seen since before the pandemic. Unretirement is a phenomenon in which someone who retires enters back into the labor market within a year. The unretirement rate reached 3.2 percent last month, compared to pandemic levels of just 2 percent. The image below shows the unretirement rate from 2019 to 2022.
The rise in unretirement could be attributed to several factors including the rising cost of living, rising inflation, and the return to in person events following shutdowns caused by the pandemic. Plus because the current job market is so favorable, those who return to the workforce have plentiful options to choose from. Returning to the labor market after retirement also occurs out of sheer boredom. If you are currently a retiree considering returning to work you aren’t alone.
Check out these sources to learn more about unretirement:
https://www.cnbc.com/2022/05/05/unretirement-is-becoming-a-hot-new-trend-in-the-sizzling-us-labor-market.html
https://www.bloomberg.com/news/articles/2022-04-14/-unretirement-is-on-the-rise-in-u-s-as-older-workers-return