Jill Schlesinger, CBS, FED discussed on WTOP 24 Hour News


And it's changed, your feelings about retiring, well, listen up. We break it down now with CBS business analyst Jill schlesinger. I think a lot of people who left the workforce amid COVID. And I'm talking about folks who are over 55, I think they got really spooked because it was scary times and all the evidence was that older Americans were more at risk, so a lot of people removed themselves from the labor force, and they certainly counted on stimulus checks and extended unemployment benefits. Those things started to wear off. And to some extent, a lot of the people who were tired were like, oh, this is actually okay because the markets were doing so well. And then the markets fall apart, and then the inflation takes off. And now we are starting to see early evidence. It's not a trend yet, of some people feeling like, you know what? Maybe I called it quits a little too early. Many of those people heading back into the labor force to try to make up for the fact that both inflation and diving markets have taken a real bite out of their future retirement plans. What are they finding now that they're trying to get back in? Well, good news. I mean, this is the weirdest thing, which is we know the fed is trying to slow down the economy. And yet the labor force remains pretty strong. And yes, you probably heard some reports about some high-tech companies that said, okay, we're going to slow down our hiring or we're going to let some people go. But the vast majority of folks in the sort of broader economy, they're still looking for employees. So this is a fantastic time actually to say, hey, wait a second. Do I need a little extra money every single month? Maybe this is a time to start doing some part time work. I'm not saying you have to go back and do exactly what you were doing before, but while the opportunity exists and while prices are still high and before the economy softens too much, now could be a very good time to get a few bucks coming in that will help offset some of these price increases. CBS business analyst Jill schlesinger. Sports on the way. It's one 13. An orthopedic surgeon makes understanding pain, painless. It's the biggest frustration that patients have. This is doctor Pamela Mehta, talking about aches with unexpected origins

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