Source: NYT > Business
Rising living costs are forcing Americans who thought they'd retired to reenter the workforce. Decades of wage stagnation and inadequate retirement savings are now colliding with persistent inflation. Social Security and personal savings no longer stretch far enough for many, creating a new cohort of older workers competing for jobs traditionally filled by younger people. The shift affects hiring practices, wage pressure in low-skill sectors, and the basic assumption that retirement is achievable for most Americans.