Surge in Early Retirements Exposes Inequalities Among U.S. Baby Boomers
- More than 1.7 million older workers exited labor market early
- Unplanned retirement can lead to poverty, report finds
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The surge in early retirements spurred by the pandemic is increasing inequality among Baby Boomers in the U.S., with older Black workers without a college degree more likely to be forced to exit the labor market prematurely, a study showed.
At least 1.7 million older workers retired early because of the pandemic crisis, according to a report by the New School for Social Research’s Retirement Equity Lab.