It seems that the days of wanting to work and work more, more years, are behind us. At least in the USA.
Millions of US workers no longer want to work past the age of 65. In fact, they've brought forward their "expiration date": retirement is now at 62 at the latest.
The Axios portal highlights figures from the New York Fed: since March 2020, the percentage of people planning to work after 62 has fallen by almost 10 percentage points, from around 56% to 46%.
What happened in March 2020? Yes, the world shut down because of the coronavirus. From then on, people reinforced the idea that they wanted to live further away from work. To enjoy life more. And that thought seems to be continuing.
COVID-19 has also brought forward the retirement of many people, but for health reasons. Although this is essentially a voluntary decision, not a forced one.
Other factors that may be related: unemployment, difficulty finding a new job, health concerns, or lack of places to put grandchildren.
Women in the US plan to stop working earlier: 44% plan to retire by the age of 62, while 48% of men have the same idea.
But there are no major discrepancies in other criteria (age, education or income). The intention to retire early is global in the country.
The other, more worrying side of the issue: Social Security in the US is running out of money.
An apparent "cultural shift characterized by a rethinking of the value of work" is underway in the US, says the New York Fed.
