UPDATE: An alarming trend emerges as New Yorkers are reentering the workforce due to financial pressures, according to new findings from the American Association of Retired Persons (AARP). As the cost of living surges and investment returns falter, many retirees are being forced to “unretire” in what should be their golden years.
Recent AARP data reveals that 7% of retirees have returned to jobs in the past six months, a notable increase from 6% in the first half of 2025. A staggering 48% of these individuals cite financial necessity as their primary reason for rejoining the workforce.
Maria Fischer, a New Yorker who has transitioned through various careers including social work and airline services, exemplifies this trend. After losing her job during the COVID-19 pandemic, Fischer found herself grappling with the harsh realities of retirement. “I need the money. Of course, everybody needs the money,” she stated. “I need to do something. I need to be active.”
Fischer secured her current role as a special projects coordinator through the Silver Star Program at the New York City Department for the Aging, which offers support for older job seekers. “They help you to find a job, so, for me, it’s great,” she added.
The urgency of this situation is underscored by comments from Lorraine Cortez-Vasquez, commissioner of the Department for the Aging. “The financial stresses are getting larger. Your 401(k) might not be as robust as you had planned,” she said, noting a significant uptick in older residents seeking employment.
As New Yorkers adapt to these new financial realities, the market for older workers is shifting. Cortez-Vasquez highlighted promising opportunities in healthcare, government, and retail sectors, urging individuals to leverage their skills and experiences. “You may have been a teacher. But now you want to work in a museum or now you want to work in the city store,” she explained.
AARP’s vice president of financial resilience programming, Carly Roszkowski, also provided actionable advice for older job seekers. She emphasized the importance of networking, encouraging individuals to inform their friends and neighbors about their job search. “Use that network of decades of experience that you have. Just stay positive,” she said.
With the potential economic landscape changing rapidly, retirees are being pushed to reconsider their retirement plans. The reentry of older workers into the labor force is poised to redefine the dynamics of employment in New York City and beyond, making this an urgent issue for families and financial planners alike.
As we move toward 2026, the phenomenon of unretirement is likely to grow. The implications for the economy and the well-being of retirees are significant. All eyes will be on how these developments unfold in the coming months.
Stay tuned for further updates on this evolving story as more New Yorkers adapt to their new realities.
