The great return of retirees to the labor market – What positions do they cover

THE retirement is an issue that concerns every person from one point of their life onwards, while from the financial crisis of 2008 onwards, the pension has become a key financial lever of support for entire families. However, the growing financial problems, especially after the turmoil caused by the global coronavirus, have changed the data, as retirement applications are increasing, but many retirees looking for a way to return to the job market.

In accordance with bbc.com, more and more people are retiring, but at the same time looking for a way to return to the labor market, either on a permanent basis or on a rotating basis. Features the 1994 at US employed 22% people aged 65-69 years in contrast with 2017where the percentage increased to 32%while in the United Kingdom these percentages doubled between 1993 and 2018.

Experts say that there are many factors behind the return of retirees to the labor market, but the main reason is the concerns associated with the cost of living, which is constantly increasing.

THE Gaëlle Blakedirector of the recruitment company Hays, which operates in Britain and Ireland, considers that “this is the beginning of a phenomenon where people feel the financial pressure, so they will return to work». “Whether it is part-time, full-time or parallel work, people are waiting and needing to work more and more, beyond the traditional retirement age,” he added.

Coronavirus changed the balance

The phenomenon of retirees looking for work is developing after the financial crisis of 2008, but it is starting to change completely after the outbreak of the coronavirus. Concerns about the new virus, health measures and uncertainty have pushed many people to retire, but at the same time have created the need for more money due to the financial problems that have arisen.

According to the British publication, initially it existed Mass exit of veteran workersas only in United Kingdomat least An additional 250,000 people aged 50 to 64 retiredwhile more than 3 million Americans retired early.

Also, according to the Indeed work site, in the US the average retirement is now at 3.3%, much higher than the average that was below 3% in 2017. In addition, Indeed found that in Britain there was a sharp increase in People between the ages of 55 and 64 “urgently looking for work” said that two-thirds of people who retired during the pandemic expected to continue working in some form.

The positions that can be filled by retirees

The jobs that retirees can fill are not many, while companies usually prefer young people, especially if it is a part-time job, as a young person can lift more workload.

However, the pandemic changed the balance in favor of retirees to a point, why there were vacancies in specialized jobswhile at the same time the phenomenon is increasing young people to challenge traditional working relationshipsas a result of which the gaps in the market are not quickly filled.

Professor Silver from the University of Toronto Scarborough says retirement can be “an incredibly unpleasant experience” for those whose personal and professional identities are intertwined. However, he believes that the pandemic offered many people the opportunity to evaluate the choice of retirement, because they spent a lot of time with their partner or alone, without the traditional pressures or stress that they had in their daily lives. Thus, they were able to make a better decision about the possibility of retirement.

Natural evolution;

The BBC, among other things, wonders if it is a natural development that retirees want to return to the labor market, as the modern way of life has changed from the past.

According to the British publication, the prevailing dogma – we live and work more, without saving the necessary money – increases the chances of a retiree returning to work.

Also, combined with rising food, rent and energy prices, they are creating a bleak landscape for someone who thought they might retire to “rest”.

However, Silver from the University of Toronto Scarborough notes that “it is really important to recognize that retirement is just a concept that has been invented, not a natural evolution or an essential stage of life.” “I think now, a lot more people are going to wonder what it means and if it really is a life goal,” he added.