Soaring living costs driving over-50s into the “Great Unretirement

According to recent data, the cost of living is driving more and more people over 50 years old back into the workforce.

Dubbed the “great unretirement,” this trend has been attributed to a combination of uncertainty and fear of financial instability, especially as living costs continue to rise [1].

The trend is particularly noticeable among women, who are returning to work in sectors like teaching and nursing [2].

While this trend may seem surprising, some experts believe that it could continue and even accelerate in the coming years, especially if house prices fall and the pandemic-induced remote work trend wears off.

Employers will need to realize that customers value experienced, knowledgeable staff and should consider how to attract and retain these older workers as part of their recruitment strategies [3].

For those over 50 who are considering a return to the workforce, it’s important to be aware of the unique challenges and opportunities presented by this transition.

This may include updating your skills or seeking out industries that value your experience, among other things.

By staying proactive and informed, it’s possible to make the most of this trend and continue working on your own terms.

Discover the Best Bank Switching Deals and Get Up to £200 Cash Incentive.

Looking Beyond ChatGPT: Three AI Stocks to Consider Investing in Today