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CRR Releases Brief on Unretirement Trends and the Labor Shortage
On March 1, 2022, the Center for Retirement Research (CRR) at Boston College released its issue brief, Will Unretirement Help Solve the Labor Shortage? CRR examined whether retirees could potentially return to the workforce in an effort to help ease the current labor shortage.
The key findings include:
- Over the last 40 years, “unretirement” trends indicate that reentry rates are low in any given year, but are rather responsive to tight labor markets.
- The current rate of job openings may convince some retirees to return to the workforce, but the number may likely be rather small relative to the shortfall.
- In the current environment, the ability to work remotely may potentially lead to more unretirements than anticipated.
The brief is available here.