There does not seem to be a wholesale rush back into the labor force for those over age 55
These figures are virtually unchanged from the prior year’s results, but notably, the survey period was conducted from January 4 through January 26, 2022.
The RCS results found that of those who feel less confident cited inflation and the associated costs of simply surviving as the reason for their declining retirement confidence – and anxiety over inflation has only increased in the months since the early-year survey period. Of course, that rate was not sustainable and by December 2021, it had slid to 8.7%, higher than the 7.3% rate from two years earlier in December 2019. But with inflation near a four-decade high, the savings rate dropped to 4.4% in April, a 14-year low.
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