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Pandemic Seen as Job Creator as Millions Speed Up Retirement

  • Net 1.7 million plan to exit labor market early, survey shows
  • In New York City metro area, 300,000 plan to retire earlier

More than 3.1 million Americans age 55 or older plan to apply for Social Security benefits earlier than they once thought because of the pandemic, according to the Census Bureau.

That’s offset by 1.4 million people in the same age group who anticipate working longer due to the impact of Covid-19, according to the bureau’s latest Household Pulse survey conducted between March 3-15.