URGENT UPDATE: New reports confirm that rising living costs are driving many New Yorkers to unretire, according to a recent survey by the American Association of Retired Persons (AARP). With an estimated 38 million individuals aged 55 and older in the workforce, financial stress is forcing a growing number to return to work, as their retirement plans face unexpected challenges.
The AARP survey reveals a troubling trend: 7% of retirees have reentered the labor force in the last six months, a rise from 6% earlier in 2025. Alarmingly, nearly half of these individuals cite financial necessity as their primary reason. “I need the money. Of course, everybody needs the money,” said Maria Fischer, who has transitioned between various jobs before finding her current role as a special projects coordinator for a city agency.
Fischer’s experience highlights the urgency of this issue. After losing her job during the COVID pandemic, she sought assistance from the Silver Star Program at the New York City Department for the Aging. “They help you to find a job, so, for me, it’s great,” she added, emphasizing the importance of support in navigating the job market.
Commissioner Lorraine Cortez-Vasquez of the Department for the Aging noted the increasing financial pressures on older residents. “The financial stresses are getting larger. Your 401(k) might not be as robust as you had planned,” she stated, underscoring the reality many face as they approach retirement age.
Amid these developments, experts advise older job seekers to leverage their extensive experience. Carly Roszkowski, AARP’s vice president of financial resilience programming, encourages individuals to network and communicate their job search openly. “Use that network of decades of experience that you have,” Roszkowski urged. “Stay positive.”
Looking ahead, opportunities for older workers are emerging in sectors like health care, government, and retail. Cortez-Vasquez pointed out that many former teachers are finding new paths, such as working in museums or city stores. The job market is evolving, and older New Yorkers are encouraged to pursue these avenues to regain financial stability.
As the trend of unretirement continues to grow, residents in New York City are urged to stay informed about the resources available to them. The urgency of the situation is palpable, and the emotional toll on those affected cannot be overlooked. The return to work is not just a financial necessity but a means of staying active and engaged in the community.
In conclusion, the trajectory of older workers reentering the labor force is likely to continue into 2026. As financial pressures mount, New Yorkers are adapting to the changing economic landscape, seeking stability and purpose in their golden years. For those considering a return to work, now is the time to act.
