CBS News | Millions of workers retired during the pandemic. The economy needs them to "unretire," experts say.

"40% of the older workers that were pushed out of the labor market because they were unemployed, they were laid off, they were fired during the pandemic, 40% of them were permanent job losers and most of them said OK, I'm not just a discouraged worker, I'm not a long-term unemployed, I'm going to tell the [Labor Department] survey I'm retired,'" said Teresa Ghilarducci, labor economist and professor at The New School.

Older workers were a much bigger share of the unemployed workers in the pandemic compared with the last recession, she said. She found many of these workers were not college educated and could not work from home. Their retirements came out of hopelessness without strong prospects of going back to the workforce.

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