The transition from employment to retirement used to be marked by a date on a calendar, along with some sheet cake, and a maybe a gold watch. Those days are long gone for most workers in the United States.
Today, the journey toward complete withdrawal from the labor force can last many years. Economists refer to the transition period as “bridge employment.” As more and more Americans either choose, or are forced, into bridge employment, the expectation of what retirement actually means is rapidly changing.
“We shouldn’t even use the word ‘retirement’ any more. It obscures more than it enlightens,” says Boston College economist Joseph Quinn.
Quinn’s research has shown that for many seniors today, retirement is not a one-time event, but rather a process. He attributes it to a changing economic picture that encourages more seniors to choose work over leisure.
Chosen excerpts by Job Market Monitor. Read the whole story at For some, leaving workforce continues years after retiring