Everyone ages, so the young ones move into the labor force, but the baby boomers are fit and healthy and don’t feel like retiring, and so they hang on to their jobs for as long as they can, despite the rampant age discrimination they face in many sectors, particularly in tech, though obviously not in politics.
I don't think it's that the baby boomers don't want to retire.
Most 55 to 65 year old folks I know would like to retire and just kick back, They have the retirement savings, many have at least some pension, but they still can't retire because they can't afford to buy health insurance.
Their employers are paying it now. Medicare won't kick in until they hit 65. They are trapped in their current job until they are 65 by our ridiculous health care system.
An informal survey at my workplace shows about 15 people (out of 107, ~15%) with ages ranging from 55 to 72, would like to retire but can afford the $900 (individual) to $1,800 (include spouse) health insurance.
A move to a "first-world, universal health care for all" plan would ignite an exodus of baby-boomers from our workforce opening up a lot of good jobs for our struggling young workers.
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