Not to deny any of the very real economic reasons for this (everything from low wages, pensions being replaced by 401Ks, etc) but it’s also important to remember that the babyboomer generation was the largest ever generation until millennials claimed that record, so any statistic that looks primarily at raw numbers as opposed to percentages is going to be higher simply because there are more people.
The number of people unable to retire is a new development. It used to be much lower.
https://www.epi.org/blog/no-way-out-older-workers-are-increasingly-trapped-in-crummy-jobs-and-unable-to-retire-growing-disparities-in-work-and-retirement-in-30-charts/
Not to deny any of the very real economic reasons for this (everything from low wages, pensions being replaced by 401Ks, etc) but it’s also important to remember that the babyboomer generation was the largest ever generation until millennials claimed that record, so any statistic that looks primarily at raw numbers as opposed to percentages is going to be higher simply because there are more people.
People who spent their whole lives voting for the “pull yourself up by your bootstraps” party: “Why isn’t the government taking care of me?”