But the result of the pandemic-induced recession is turning out to be vastly different for older workers than for their younger counterparts. “So the fact that boomers were staying in the labor force has been an important contributor to economy-wide growth. “But it’s really an important question.”For some older workers, it’s a quality-of-life issue: They have found being at home fulfilling. Reduced availability of older workers will complicate the Federal Reserve’s ability to steer interest rate policy and manage inflation. There are reasons to think the sharp break in older workers’ labor participation could be a lasting trend.

Source: Los Angeles Times July 08, 2021 10:52 UTC