Economist James Galbraith says that, without retirement of older workers, the young will continue to have problems entering the job market and establishing careers. One solution? Lower the Medicare eligibility age to 62 and lower Social Security full retirement ages so that more older workers can retire.
Seems that yet one more victim of the decline in retirement savings accounts is the unemployed or underemployed young worker including recent college graduates. No, their retirement savings didn't plummet–they don't have retirement savings yet because many of them can't get "real" jobs. The normal turnover in the labor market–older workers retire, younger workers move up–has ground to a near halt.
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