What you asked made me think about why I'm now a totally-retired retiree. It's a total equation....the work, reward and safety, the hours, the commute, the wages. I wonder if a lot of those slipping out of the job market are retirees who have decided that it's not worth it.
If interest on FDIC savings reaches even a somewhat reasonable percentage (say 3%?) I'd wager that a lot more older folk would leave the workforce and open jobs for younger workers. Just a guess, based on my experience and what I know of those whom I encounter.
If interest on FDIC savings reaches even a somewhat reasonable percentage (say 3%?) I'd wager that a lot more older folk would leave the workforce and open jobs for younger workers. I remember in the late 70's bank account and cd interest was really good.
Of course mortgages were double digit.
And inflation was huge.