I find it astonishing how positive Bloomberg tries to spin this:
People earn a wider range of incomes in the U.S., so “workers have an incentive to try harder to move up the job ladder because a promotion is worth more,” said Dora Gicheva
-The income range in the US is so large that there are lots of people at the bottom end who have to work multiple jobs. How much does that have to do with the longer work hours, Bloomberg?
Generous pensions in Europe are also a strong factor in discouraging older people from working, the study said. In the U.S., more people over 65 are working than at any point in the past 50 years. The U.S.’s shift from traditional pensions to 401(k) plans makes it harder for Americans to know when it’s safe to retire.
-This sounds less like people in Europe are "discouraged" from working, rather than many Americans must work longer because they can't retire.
People earn a wider range of incomes in the U.S., so “workers have an incentive to try harder to move up the job ladder because a promotion is worth more,” said Dora Gicheva
-The income range in the US is so large that there are lots of people at the bottom end who have to work multiple jobs. How much does that have to do with the longer work hours, Bloomberg?
Generous pensions in Europe are also a strong factor in discouraging older people from working, the study said. In the U.S., more people over 65 are working than at any point in the past 50 years. The U.S.’s shift from traditional pensions to 401(k) plans makes it harder for Americans to know when it’s safe to retire.
-This sounds less like people in Europe are "discouraged" from working, rather than many Americans must work longer because they can't retire.
Edit: Formatting