This is a few weeks old, but I felt it is relevant here. Noticeably absent from the "speculation" as to the reasons fewer people in their 50's are working is the elephant in the room: Ageism. I gave up searching for work because it's painfully obvious my capability is not the issue. AARP has permanent support education for 50+ people trying to get hired.
All I hear about with respect to frustrations being unable to find a job is focused on the youngest, while it's the eldest that are being forced out at alarming rates. The worst part is we don't have any recovery path, and some of us are supporting adult children who can't find work.
We either navigated all the pratfalls life throws at us and have savings enough to "survive", or we didn't, and we become another near invisible member of the predominantly elder population of homeless standing by intersections hoping for a handout.
Next January possibly millions of over 50 people thrown out of work and unable to find any job (even minimum wage jobs) will lose their health coverage, since Medicaid begins requiring 20 hours per week of work to qualify.
We are well beyond "fearing dystopia" now. We've been living it for a decade, some would say longer.
I included genx because some consider starting in 1960 or 1961, which would make them eligible for retirement.
Yes, but compared to other generations they are doing much better.
Lol, what? They watched their parents sell a home they bought for 10k for 400k and they lost all hope?
that straw man you set on fire is nice and warm.
Only a moron or a dishonest debater would look back and not acknowledge the destruction of millions of steel, coal, manufacturing, furniture making, and textile industry jobs, the decline of unions, the shifting of tax burdens, or the elimination of public support. oh, lets not forget the drug addiction all over manufacturing towns throughout the industrialized states.
bravo!
Which they at least got to take part in before they voted for the people who destroyed it. They also benefited from the largest growth in wealth in American history. "Baby boomers hold approximately 51.6% of total U.S. household wealth, controlling over $85 trillion. Despite making up roughly 20% of the population, they possess an outsize share of assets compared to younger generations"