‘Great Retirement’ in U.S. Is Driven by Older Female Baby Boomers
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The surge in U.S. retirements during the Covid-19 pandemic was led by older White women without a college education, according to research by the St. Louis Federal Reserve.
The so-called Great Retirement trend that saw workers leave the labor market -- whether forced or by choice -- was driven by baby boomers aged 65 and older, the regional Fed bank wrote in a recent blog post. By contrast, retirements among those aged 54 to 65 was little changed.