Almost one-third of retirees say they would consider rejoining the workforce if inflation continues, according to ASA’s latest Workforce Monitor survey. Currently, 14% of retirees are either actively looking for work or open to getting a job.
The driving factor is financial. Nearly four in 10 (39%) of respondents said Social Security is their main source of income, and 25% said they would consider getting a job if Social Security no longer covered their expenses.
In terms of what retirees would want in a job, their preferences are similar to the existing workforce: 41% would want a flexible schedule, and 35% would want to work remote full-time.
The main obstacle that retirees see is their age — 43% said this would be an obstacle. In a press release, Richard Wahlquist, president and chief executive officer at the American Staffing Association, commented: “Employers that take steps to embrace flexibility and diversity across their entire workforces will be more productive and have higher levels of employee engagement.”