{"id":475244,"date":"2022-07-18T16:27:00","date_gmt":"2022-07-18T13:27:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/older-workers-were-unretiring-but-the-new-covid-variant-may-change-that\/"},"modified":"2022-07-18T16:27:00","modified_gmt":"2022-07-18T13:27:00","slug":"older-workers-were-unretiring-but-the-new-covid-variant-may-change-that","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/older-workers-were-unretiring-but-the-new-covid-variant-may-change-that\/","title":{"rendered":"#: Older workers were \u2018unretiring,\u2019 but the new COVID variant may change that"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a412832853e3\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a412832853e3\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/older-workers-were-unretiring-but-the-new-covid-variant-may-change-that\/#%E2%80%9C_Older_workers_were_%E2%80%98unretiring_but_the_new_COVID_variant_may_change_that%E2%80%9D\" >&#8220;: Older workers were \u2018unretiring,\u2019 but the new COVID variant may change that&#8221;<\/a><ul class='ez-toc-list-level-2' ><li class='ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/older-workers-were-unretiring-but-the-new-covid-variant-may-change-that\/#A_diminishing_older_workforce_is_bad_for_retirement_security_%E2%80%93_and_the_economy\" >A diminishing older workforce is bad for retirement security \u2013 and the economy<\/a><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/older-workers-were-unretiring-but-the-new-covid-variant-may-change-that\/#Alessandra_Malito\" >Alessandra Malito<\/a><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9C_Older_workers_were_%E2%80%98unretiring_but_the_new_COVID_variant_may_change_that%E2%80%9D\"><\/span>&#8220;: Older workers were \u2018unretiring,\u2019 but the new COVID variant may change that&#8221;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<h2 class=\"article__subhead\" itemprop=\"alternativeHeadline\"><span class=\"ez-toc-section\" id=\"A_diminishing_older_workforce_is_bad_for_retirement_security_%E2%80%93_and_the_economy\"><\/span>\n  A diminishing older workforce is bad for retirement security \u2013 and the economy<br \/>\n<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><\/p>\n<div class=\"column column--full article__content\">\n<div class=\"article__side\">\n<div class=\"container--sticky not-active\">\n<div id=\"cx-next\" data-nosnippet>\n              <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div id=\"js-article__body\" class=\"article__body article-wrap at16-col16 barrons-article-wrap\" itemprop=\"articleBody\" data-sbid=\"WP-MKTW-0001033131\" role=\"document\">\n<div class=\"barrons-article-ad-wrapper\">\n<div data-track=\"barrons-article-ad-wrap\" class=\"barrons-article-ad sticky_item\">\n<div class=\"barrons-main-article-ad-target sticky_target body_ad\" aria-hidden=\"true\"><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div data-layout=\"\n                inline\" data-layout-mobile=\"\" class=\"\n          media-object\n          type-InsetArticleReader\n              \n              inline\n  article__inset\n          article__inset--type-InsetArticleReader\n              article__inset--inline\n  \"><\/p>\n<div class=\"media-object-article-reader\">\n<div class=\"audioplayer\" data-sbid=\"WP-MKTW-0001033131\" role=\"region\" aria-label=\"Listen to Article\" tabindex=\"-1\" id=\"articlereader\" data-show-title=\"false\" data-theme=\"wsj-article-reader\" data-show-header=\"false\" data-show-subscribe=\"false\" data-ads-enabled=\"true\" data-save-publication=\"false\">\n        <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p>       Older Americans were just starting to get back to work after COVID-19 either pushed them into an early retirement or left many unemployed, but the new COVID variant might alter those plans.\u00a0<\/p>\n<p> The latest variant is known to be highly contagious, and it\u2019s already spread across the globe, including the U.S., U.K., Germany and India. The virus might deter some older Americans from returning to the workforce or staying in the labor market, depending on their jobs, financial status and fear of contracting COVID, experts said.\u00a0<\/p>\n<div class=\"paywall\">\n       An earlier retirement does not necessarily equate to a secure one. Over the last 25 years, workers 55 and older accounted for 80% of the growth in the labor force, said Richard Johnson, director of the program for retirement policy at Urban Institute. \u201cEmployers are increasingly relying on older workers to fill their staffing needs,\u201d he said. For some older workers, staying in the labor market is the better alternative to retiring with nothing to do, but for others, it\u2019s necessary, especially if they haven\u2019t saved enough for retirement and <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Social<\/a> Security benefit checks won\u2019t cut it.\u00a0<\/p>\n<p><strong>Read:<\/strong> \u2018I needed something to do\u2019: How working in retirement is being embraced by older adults and companies<\/p>\n<p>\u201cThe new COVID variant is bad <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">news<\/a> for older workers,\u201d said Teresa Ghilarducci, director of the Schwartz Center for Economic Policy Analysis.\u00a0<\/p>\n<p>The minority of older workers who can choose not to work may simply stop working, Ghilarducci added, but that isn\u2019t a common scenario.\u00a0<\/p>\n<p>A forced retirement, as many Americans have experienced because of the pandemic, can put a financial, emotional and mental strain on older workers, who weren\u2019t yet prepared to make ends meet in their older age. \u201cA lot more people will be retired before they want to be,\u201d Ghilarducci said.\u00a0<\/p>\n<p>There were about 400,000 fewer workers ages 55 to 64 years old in the workforce during the first half of the pandemic, Johnson said, but by the beginning of 2022, the numbers for workers in their late 50s and early 60s were restored to where they were shortly prior to the pandemic.\u00a0<\/p>\n<p>That\u2019s not the case for workers 65 and older, however. This demographic has continued to see a decline in participation, to the tune of about one million fewer workers in the labor force, Johnson added. Over the last 25 years, however, this age group has been more prevalent in the workforce than ever before, thanks to an underlying population that is getting older and the fact that more workers continue to work later in life, Johnson said.\u00a0<\/p>\n<p>Lower-income employees and those in the leisure and hospitality industries suffered from the effects of the pandemic, as well as people with less than a college degree, the experts said.\u00a0<\/p>\n<div id=\"cx-membership-tile\"><\/div>\n<p>The new variant will also affect the older workforce by constricting business activity, with fewer people going out to eat, shop or <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/trip-and-travel\/\" data-internallinksmanager029f6b8e52c=\"10\" title=\"Trip &amp; Travel\" target=\"_blank\" rel=\"noopener\">travel<\/a>, which will impact the industries that employ many senior workers, Johnson said. Employers are already experiencing a labor shortage, due in part to the decline in older worker participation.\u00a0\u00a0\u00a0<\/p>\n<p>The latest contagion can be dangerous for older Americans, including those who work jobs that require them to be on site and regularly interacting with others, Ghilarducci noted. Mask mandates have also been relaxed, elevating the risk for some individuals, she added.\u00a0\u00a0<\/p>\n<p>\u201cI suspect with this new variant that older workers who can\u2019t work from home will be more severely hit by the recession this new variant causes,\u201d Ghilarducci said.<\/p><\/div>\n<\/div><\/div>\n<p><\/p>\n<div class=\"byline article__byline\">\n<p>    <span>By<\/span><\/p>\n<div class=\"author mobile-scrim hasMenu\" data-scrim='{\"type\":\"author\",\"header\":\"Alessandra Malito\",\"subhead\":\"The Wall Street Journal\",\"list\":[{\"type\":\"link\",\"icon\":\"bio\",\"url\":\"https:\/\/www.marketwatch.com\/topics\/journalists\/alessandra-malito\",\"text\":\"Biography\"},{\"type\":\"link\",\"icon\":\"twitter\",\"url\":\"https:\/\/twitter.com\/malito_ali\",\"text\":\"@malito_ali\"},{\"type\":\"link\",\"icon\":\"email\",\"url\":\"http:\/\/www.marketwatch.com\/news\/mailto:amalito@marketwatch.com\",\"text\":\"amalito@marketwatch.com\"}]}' itemscope itemprop=\"author\" itemtype=\"http:\/\/schema.org\/Person\">\n<h4 itemprop=\"name\"><span class=\"ez-toc-section\" id=\"Alessandra_Malito\"><\/span>Alessandra Malito<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p><ufc-follow-author-widget product=\"marketwatch\" author-id=\"4_MW\" author-name=\"Alessandra Malito\" signin-url=\"https:\/\/accounts.marketwatch.com\/login?target=https%3A%2F%2Fwww.marketwatch.com%2Fstory%2Folder-workers-were-unretiring-but-the-new-covid-variant-may-change-that-11658150836%3Frss%3D1%26siteid%3Drss\" panda-api=\"https:\/\/follow-api.marketwatch.com\"><\/ufc-follow-author-widget><\/p><\/div>\n<\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more News articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/news\/\" target=\"_blank\" rel=\"noopener\">News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"http:\/\/www.marketwatch.com\/news\/story.asp?guid=%7B20C05575-04D4-B545-7FC3-AB6B2DC48960%7D&#038;siteid=rss&#038;rss=1\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;: Older workers were \u2018unretiring,\u2019 but the new COVID variant may change that&#8221; A diminishing older workforce is bad for retirement security \u2013 and the economy Older Americans were just starting to get back to work after COVID-19 either pushed them into an early retirement or left many unemployed, but the new COVID variant might&#8230;<\/p>\n","protected":false},"author":1,"featured_media":475245,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.mktw.net\/im-585532\/social","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[],"class_list":["post-475244","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/475244","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=475244"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/475244\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/475245"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=475244"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=475244"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=475244"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}