The vast majority of U.S.baby boomers (88%) currently work full-time, part-time, or do temporary work due to current economics and the high cost of living, new research from Indeed Flex shows.
In a recent survey of 1000 American baby boomers, only 10% reported being fully retired, with three highs—the cost of living, housing prices and healthcare costs – forcing some of the aging population to rethink retirement. Unlike previous generations, older Americans can’t rely on pensions or Social Security being enough to live on; therefore, temporary work can help maintain their standard of living.
Indeed, “un-retirement” may be the next big thing, with 83% reporting they would consider temporary work and 61% saying they prefer retail, hospitality and business support sectors.
“Boomers’ working longer or un-retiring presents opportunities for employers,” notes Novo Constare, CEO and Co-Founder of Indeed Flex, an online marketplace for flexible and temporary work. “Older workers bring experience, strong work ethics and knowledge that benefit businesses needing to fill positions … [For the workers], temporary work is a good bridge to make ends meet.”
Click here for more from the survey.