Welcome To The Third World, Part 17: Was Middle-Class Retirement Just A Credit Bubble Fantasy?

One of the jarring — and until recently underreported — aspects of those seemingly-positive recent US jobs reports is the increasing skew towards older workers. Most new jobs have gone to people who in better times would be leaving to live off their savings. Now they’re coming back, frequently taking jobs they wouldn’t consider if money wasn’t so tight.

And it’s apparently a lot worse for older women:

(Wall Street Journal) – More female workers delay retirement, a shift that’s helping to transform America’s economy.

Connie Blanchette, age 72, is a relative newcomer at the county social-services agency where she works part time, so her retirement plans differ from most longtime government workers. “I will work as long as I can,” she said.

Ms. Blanchette, who lost her job, home and savings after the financial crisis, is among a wave of older American women who are working or seeking…


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