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My impression is that Covid was a signal for Boomers to retire. Now all those service jobs which used to be filled with Boomers are staffed by nobody, so labor is hard to find and more expensive. As a concrete example, an aquaintence was a nursing assistant and dropped from full-time to retired in May of 2020. They have since returned to work, but only around 4 hrs/wk, and only in 1-1 care for clients they like, rather than the more economically efficient (but more demanding) group care. Social security is paying about what they used to make; why would they subject themselves to the stressful job?
Might be even worse than that, if retirees freed up a whole cascade of jobs via promotion. There was absolutely a hiring flurry in my industry and I wonder if it attracted some lower-skill employees who’d otherwise have been finishing their vocational training.
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This is exactly what happened with our local healthcare. Nurse past retirement age finally "retired," then took up private practice to fill the gaps left by the completely incompetent hospital district, now "retiring for real except for helping friends/whoever asks because she can't say no."
Competent boomers were absolutely doing all the actual work, and losing them is destroying the institutional knowledge of every industry.
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