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.
The upshot is a net 1.7 million early retirements, which will likely mean more positions opening up for younger Americans. Older workers -- the so-called “baby boomers‘’ born in the two decades after World War II -- ...
Learn more about Bloomberg Law or Log In to keep reading:
See Breaking News in Context
Bloomberg Law provides trusted coverage of current events enhanced with legal analysis.
Already a subscriber?
Log in to keep reading or access research tools and resources.