A great retirement wave, induced by the pandemic, has seen more than 2.4 million retirements that would not have occurred otherwise, with a particularly steep rise among those ages 65–74. While workers with higher levels of education and income remained the most likely to continue working during the pandemic, those in the retail, trade, leisure, and hospitality industries drove the trend. A large share of these workers are older women; some, especially those with little in savings, may return to employment if pandemic-related conditions, including health risks and wages, improve.
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