Inflation sending retirees back on the job hunt

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(NewsNation) — Millions of Americans retired early during the pandemic, however many are being pulled back into the workforce due to a combination of COVID-19 concerns and more flexible work arrangements.

However, In some cases, workers say rising costs — and the inability to keep up while on a fixed income — are factoring heavily into their decisions as well.

According to a recent Gallup poll, 63% of Americans surveyed said they’re worried about having enough money for retirement. That’s the highest rate since 2016.

That anxiety is leading more people over the age of 55 to look for work.

About 2.5 million Americans retired earlier than expected from the start of the pandemic through October 2021 — but now rising prices are sending many retirees back on the job hunt.

At least 480,000 people over 55 entered the labor force in the past six months.

The labor-force participation rate for people over 55 was 38.9% in March, according to the U.S. Department of Labor.

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