“U.S. Economy Will Be in Trouble If Boomers Don’t Come Back to Work”

“Older workers have been one of the reasons job growth has remained so robust during the past few years. From the end of 2016 through February, employment among people between the ages of 25 and 54 increased by 3 million. For workers older than 55 that total was slightly higher, or 3.1 million. This isn’t because workers older than 55 had been getting hired at a rapid rate, but rather that lots of workers were turning 55 and weren’t retiring as quickly as some forecasts predicted…

The risk is that this temporary phase of economic disruption will turn into permanent disruption for older workers. We saw in last week’s jobless claims report that fiscal support from Congress either isn’t fast or effective enough at preventing mass layoffs, with American companies firing a record 3.28 million workers in a single week. In all likelihood we’re going to see at least a couple more weeks of historically high levels of jobless claims…”

https://finance.yahoo.com/news/u-economy-trouble-boomers-dont-103050312.html