Older Americans Rejoining Workforce Due to Financial Pressures
A growing number of older Americans are returning to the workforce after initially retiring, driven largely by financial necessity. According to research from AARP, nearly half of those returning to work cite financial pressures as a primary motivator, with 48% mentioning everyday living costs or economic concerns. This trend, known as 'unretirement,' has been particularly pronounced as the job market heated up post-pandemic, coupled with rising living costs during 2022 and 2023. Geoffrey Sanzenbacher, an economics professor at Boston College, notes that more than 7% of previously retired individuals aged 55 to 64 have reentered the workforce. The median income for fully retired Americans over 65 is approximately $26,770 annually, with many receiving less than $20,500 from Social Security, making work a necessary option to supplement income. 
