, Columnist
Jobs Recovery Is Leaving Older Workers Behind
One reason for the drop in unemployment is a wave of people 55 and older leaving the labor force, which is bad news for the economy.
Older workers are sitting out the job recovery
Photographer: Jim Watson/AFP via Getty Images
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Employment growth has slowed over the past few months as the winter spike in Covid-19 led to new restrictions and more people unable to go to their jobs because they're sick or quarantining. But one important group of workers has seen progress stall out since August: those over the age of 55.
A labor market recovery can't be inclusive if it doesn't include older workers. A failure to draw them back in will mean reduced potential for the economy and the possibility that inflation becomes a concern earlier than expected.