If you raise the retirement age; wouldnt there be less jobs?

[BigD_95]

I believe it was Dennis Kucinich who put forth a bill that was going to offer for a limited time a early retirement option. I believe down to the age of 59 thus creating jobs and reducing unemployment.

So now if they would increase the age of Social security wouldnt that hurt unemployment ?

[Cali_Democrat]

1. Yes

The unemployment rate will go up if the retirement age is increased. Larger labor pool chasing after the same number of jobs.

[panader0]

2. My brother is 62

He is unemployed after being laid off and does want to retire, but nobody hires 62 year old people. It would be worse if the age was raised.

[Statistical]

3. The plan for increasing retirement would be phased in between 2020 and 2040.

However yet it would mean a larger labor force.

Still I don't think that is a good argument against it. We could simply stop all legal immigration (roughly 800K persons per year) to help balance labor vs jobs. I also don't think that would be a good idea.

[DoBotherMe]

5. Why not stop immigration?

I never imagined that I would want this, but I do. Dana ; )

[Statistical]

6. Sadly I think it will happen.

However socially and culturally I think it is a bad idea.

Countries with closed immigration tend to be isolated and xenophobic.

Still one way to look at it is if we sealed the borders that would be 800,000 less persons entering the labor pool. With 15 million plus unemployment eventually that is going to start resonating.

[Coyote_Bandit]

4. Anybody

who wants to work or needs to earn an income should be able to do so.

By the same token, anyone who has worked for X number of years and contributed to Social Security should be permitted to retire and draw full benefits. Age should not be the determining factor. Years and/or dollars in contributions should determine benefits.

[hootinholler]

7. Um the other way around.

It doesn't shrink the number of jobs, it keeps more workers competing for the jobs.

Which benefits the people who hire by putting downward pressure on wages.

-Hoot

[Kber]

8. No - not fewer jobs

but more people competing for the same number of jobs, so yes, higher unemployment.

[area51]

9. Kick.

We need to lower the retirement age, not raise it. As other posters have pointed out, raising the retirement age will make unemployment worse. There's plenty of money to lower the retirement age, if we stop the two wars of choice and close some military bases, and offer the troops training in infrastructure rebuilding and medical professions.