After the pandemic, record numbers retired – now that trend is reversing as people flock back to the workforce
After record numbers of people aged 50 and over in the UK left the workforce as a result of the pandemic, the trend has begun to reverse as the cost of living crisis has forced some to reconsider early retirement.
This week, a report by the Lords economic affairs committee said earlier retirement among 50- to 64-year-olds was the biggest contributor to a rise in economic inactivity of 565,000 UK citizens since the start of the pandemic. Peers said this trend was putting the economy at risk of weaker growth and persistently higher inflation.
