The economy is doing super great and that is the problem. The old trick was to pump up the rates until unemployment increases and demand drops. They tried it and it's not working.
Yeah, there were a lot of near retirement workers who had their 401k/pensions wiped out by the financial crisis. I've met quite a few who pushed back retirement 7-10 years to rebuild their savings. Now that bond rates are up, they're headed for the exits en masse.
The industry that wasn't affected by a large demographic of near retirees was technology. Because age discrimination was built into the culture. Not a lot of old programmers sticking around. They get RIFed right outta here. So while there is a shortage on teachers, nurses, trades, and police there is a surplus of junior and mid-career tech workers.
Hell I’ve tried those just to get some income coming in, but nothing. They claim “fast hiring process”, and then it’s two weeks later and I just see the same damn positions reposted.
Interesting. There might be an incentive to reject overqualified candidates who the hiring manager might deem to much of a waste of time to train if they are likely to end up leaving within a short amount of time. But I was just making a tongue in cheek comment about how different roles experience different supply and demand.