More people aged 60 to 78 are looking for work in America this year compared to the previous year, The Telegraph reports. The escalating cost of living is requiring that aging baby boomers change their retirement plans and get back to work – especially with the presidential election on the horizon and the potential for Democratic presidential candidate Kamala Harris to win that contest and continue the green energy policies of President Joe Biden that have not benefited many American workers.
The result has been a 23 percent increase from last year in job applications from Americans aged 60 to 78 on LinkedIn. Karin Kimbrough, LinkedIn’s chief economist, said the surge is attributable to people who are forced to “unretire” because inflation has devoured their savings and high interest rates have made borrowing so costly. “Central banks raised rates and that probably raised their cost of living, so I think that probably ate into their savings more than they were anticipating. In the US older workers are resuming these really aggressive job searches. They had retired, and now they’re unretiring,” Kimbrough told The Telegraph.
That uncertainty has not been helped by Kamala Harris’ vague economic plans that consist of massive spending on housing and a promise to stop “price gouging” in the grocery stores. Her tie-breaking vote in the Senate occasionally advanced inflationary legislation, such as the ‘Inflation Reduction Act (IRA).
Although the Biden-Harris administration is fond of telling Americans the country has rebounded faster and better from the economic malaise of the Covid pandemic than any other G7 nation, most Americans are not getting any fiscal satisfaction from the data and are feeling left behind. While the Biden-Harris administration promised an abundance of green economy jobs, 40 percent of the programs are currently on hold due to inflation and a waning interest in electric vehicles by the automobile industry. […]
— Read More: thepostmillennial.com
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