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US / Delaying retirement / From 42% in 2010 to 62% in 2012 among workers between the ages of 45 and 60

According to a new report released by The Conference Board, older workers intend to postpone their retirement now more than ever, despite a recovering U.S. economy. Using data from the August 2012 Consumer Confidence Survey, Trapped on the Worker Treadmill? documented a sharp increase in plans to delay retirement among workers between the ages of 45 and 60, from 42% in 2010 to 62% in 2012.

Part of the explanation for the increase is that the groups that were more likely to delay retirement rose in size between 2010 and 2012. The percent experiencing a large decline in home value increased by 15 percentage points, while those experiencing job losses increased three percentage points and those experiencing salary reductions increased five percentage points.

As can be seen in chart 1, those who experienced a labor loss (either lost a job or experienced a pay cut) were much more likely to plan on delaying retirement.

Blog - The Conference Board

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Blog - The Conference Board

via Blog | The Conference Board.

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