However, if reform is delayed and fiscal exigencies ultimately force changes in these programs with little notice to potential retirees, their ability to adjust their behavior appropriately could be much reduced. Conclusion Over the next few decades, the U.S. population will grow significantly older, a development that will affect our society and our economy in many ways.
A second possibility is that the labor market has changed in a way that makes jobless recoveries the new norm. For example, perhaps the pace of structural change in the demand for labor has increased over time.