National Journal comments on Gallup’s poll:
It seems likely that the workforce participation rate will remain high if many Americans, particularly baby boomers, continue to work past traditional retirement age, potentially increasing the overall unemployment rate as the economy improves.This is just the reverse of the idea that the workforce participation rate will continue to decline, and the unemployment rate along with it, as baby boomers reach traditional retirement age.
The poll is a reminder of how far-reaching the effects of the recession may be - not just for individuals and families, but for government budgets, too.
The dialogue around these policies tends to overlook their interaction with the economy or other social programs. Raising the retirement age does not occur in a bubble—as more elderly are unemployed, they might turn to the unemployment rolls, they can keep younger workers out of their positions, and they can rely more on Disability Insurance. The costs are simply shifted from Social Security to the economy, to individuals, and to other government programs.
