Goldman just figured out why the labor shortage will last for a long time: 60% of the missing workers retired, many for good

The Business Insider reports:

A Friday note from Goldman Sachs researchers led by Jan Hatzius finds that 3.4 million of the people who left the labor force - meaning they're not working or aren't actively looking for work - are over 55. Roughly 1.5 million of them were early retirements, and 1 million were normal retirements. Those two groups of retirements "likely won't reverse," meaning that, out of the five million workers Goldman estimates are still missing from the labor force, about half may not ever return.

If America didn't provide such a big entitlement state do you think you'd see this?