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Before the pandemic, the participation rate for workers age 65 and older reached 20.8% before dropping two-and-a-half percentage points by July 2021. The rate has since risen a percentage point to 19.3% but remains well below the pre-pandemic high.
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“While the gap seemed to be closing earlier in the year, it seems to have widened slightly since then. As of September, we estimate about 1.98 million excess retirees.”
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