Retirees Return to Work as Gas Prices Jump 50% and Inflation Fears Bite
Updated
Updated · The Boston Globe · May 18
Retirees Return to Work as Gas Prices Jump 50% and Inflation Fears Bite
2 articles · Updated · The Boston Globe · May 18
Unretirement remains elevated versus the immediate post-COVID period, with many retirees going back to work even as job openings have fallen to post-COVID lows.
AARP survey data and economist Geoffrey Sanzenbacher point to financial pressure as the main driver, with higher gas, food and healthcare costs and worries that inflation will erode savings.
New England shows slightly higher return-to-work rates than the rest of the country — 8.3% versus 5.9% for ages 55-64 since 2024, and 3.0% versus 2.2% for those 55+.
Nationally, unretirees are disproportionately Black, Hispanic and more likely to live in multigenerational households, suggesting family cash needs are helping keep older Americans in or back in the labor force.
With retirement's 'magic number' now $1.46 million, is working into your 70s the new American dream?
Will a new overtime tax break reshape the financial futures of America's working retirees?