The Post‑Pandemic Shift in Retirement Expectations in the U.S

Felix Aidala, Gizem Kosar and Wilbert van der Klaauw

No 20240509, Liberty Street Economics from Federal Reserve Bank of New York

Abstract: One of the most striking features of the labor market recovery following the pandemic recession has been the surge in quits from 2021 to mid-2023. This surge, often referred to as the Great Resignation, or the Great Reshuffle, was uncommonly large for an economic expansion. In this post, we call attention to a related labor market change that has not been previously highlighted—a persistent change in retirement expectations, with workers reporting much lower expectations of working full-time beyond ages 62 and 67. This decline is particularly notable for female workers and lower-income workers.

Keywords: retirement; expectations; pandemic; recession (search for similar items in EconPapers)
JEL-codes: D84 J26 (search for similar items in EconPapers)
Date: 2024-05-09
New Economics Papers: this item is included in nep-age
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