Quote:
Originally Posted by Chrysalis
Early retirement isnt even the main reason for increased job vacancies, the primary cause is the zero asylum and cancellation of freedom of movement policies. Blaming the sick, and people who have retired is a distraction.
|
Though I am a big fan of the freedom to move for workers, I am not sure lack of migration is the whole story here. The area of concern is the older age bracket. Over half of the post COVID newly economically inactive group are in the 50-64 year old group (
source) This group is relatively high earning before leaving the workforce and highly skilled. Replacing these workers isn’t easy, even through attracting workers from abroad - upping sticks to move abroad is challenging enough but doing it in your 50s or 60s is a big deal.
If low workforce supply increases wage growth, then the effects are much higher in terms of costs at the top end, driving inflation more than lack of low skill, low pay workers. It paid off for me when I got a new job recently with a huge pay rise!
That said, if I could afford to retire now, I would be offski. Work to live, not live to work…