Workers

Axios -  Increasing numbers of older Americans are putting off retirement, creating career-ladder gridlock for younger workers, Axios' Ivana Saric reports. As older workers stay in their jobs longer, their Gen Z and Millennial colleagues are often locked into lower-paying, junior-level roles.

The share of U.S. adults aged 65+ in the labor market has steadily increased since the late 1980s.

• A retirement confidence survey from the Employee Benefit Research Institute found 33% of workers planned to retire at 70 or older — or never. That's up from EBRI's 2021 survey, in which 26% of workers said the same thing.
• With fewer jobs offering pension plans, fewer Americans are financially on track for retirement.
• People are living longer and staying healthier as they age. Both play a role in how older workers remain on the job.