Okay Boomer! Challenger Report Indicates Older Workers Ideal Candidates in Current Labor Shortage

Challenger, Gray & Christmas, Inc. Says Millions of Older Workers Retired During Labor Shortage and Employers Need Them Now.

The number of Baby Boomers who retired in 2020 was 3.2 million more than in 2019 and more than one million more than the average since 2011, according to Pew Research. Meanwhile, 1,763,000 fewer workers over the age of 55 were employed in July compared to February 2020, according to seasonally-adjusted data from the Bureau of Labor Statistics (BLS). Will the mounting labor shortage and a desire to accommodate flexibility and remote work demands lure back older workers?

"Workers over the age of 55 are ideal candidates for many open positions right now. Many are vaccinated and willing to work in-person at a time when employers are eager for workers to collaborate at the office," said Andrew Challenger, Senior Vice President of global outplacement and executive coaching firm Challenger, Gray & Christmas, Inc.