The great un-retirement: Jobs boom lures older workers back

Pooja Sharma, who turns 40 next week, joined the program earlier this year after leaving a job in banking five years ago following her move from India to Sydney to care for her family.

“As a part of my own journey I really wanted to get back to my working life,” she said.

One factor encouraging people to re-enter the workforce has been the flexible work options which have become much more prevalent since the pandemic, especially work from home.

Sharma said the opportunity for hybrid employment, where she works from home two days a week, encouraged her to return full-time.

“Giving more flexibility … is a big thing,” she said.

A report by Rawnsley published earlier this year found that the expected retirement age has edged higher since the pandemic, especially for men.

One reason older Australians have delayed retirement is the disruptions caused by COVID-19, including border restrictions, which meant many were less inclined to travel.

“For people who thought they might retire and travel around Australia, or travel abroad, that option was no longer on the table through the height of the pandemic, so many chose to simply keep working,” said Rawnsley.

“The fact that workplaces have become more flexible in what has been a tight labour market, with working from home options readily available and more flexible working hours, seems to have made older Australians less inclined to retire too.”

Australia’s unemployment rate was at a near 50-year low of 3.4 per cent in November. The overall participation rate, which measures the share of the working-age population either employed or seeking employment, hit a record high of 66.8 per cent.

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