Retired Workers now are being forced to return to work in massive numbers to make ends meet as the Perfect Storm of Market losses and falling home prices take its toll on the retirement community of this country!
The dramatic rise in unemployment (over 533,000 jobs lost last month) may be combining with an equally dramatic drop in the value of retiree investment accounts (50% and counting) to create a perfect storm.
More specifically, the recently unemployed may be competing head-on with the newly “unretired†for many of the precious-few open jobs that will remain in our economy.
Yes, it seems that severe losses experienced in the stock markets are causing tens of thousands of retired people to return to the work force, as reported in Business Week. In other words, they are going broke, just like lots of not-yet-retired people are too.
Retirementjobs.com is a leading resource for jobs doable by the 55+ group. It has experienced a very significant increase in traffic to its site, triggered by those needing to “unretire.â€
