Americans want to work longer to support themselves as the cost of living climbs and 401(k) benefits are further delayed, but many older Gen X workers and young boomers are being forced into retirement after being laid off with no jobs to turn to.
Among U.S. citizens between the ages of 50 and 65, 14% were laid off once in the past 10 years, with 4% being fired more than once, according to a 2025 WSJ analysis of Boston College’s 2012 to 2022 Retirement Study. And of those who experienced layoffs at least once, 24% were not able to find a new job. That group is almost entirely represented by the Gen X cohort of workers, who are aged 45 to 60, and often hold competitive senior roles in the later years of their career.
