It certainly seems like a reset from my perspective. I can at the very least least confirm the shift towards adjunct staff on 9 month contracts where I work. Most of the staff here are old and are getting paid 2-3 times as much as I am for similar or simpler jobs. They have put forth some pretty nice retirement packages encouraging people to retire early.

It seems to be the story across the board when I discuss things with my peers. The older workers have a much higher wage and usually a nicer benefits package as well. I wouldn't be surprised if the average working wage falls as more of the older workers retire.

I find it unlikely that I will ever properly retire unless I receive a large windfall. Other people I talk to feel the same way. Our retirement package that comes with the job pays out a minuscule amount for my generation when compared with the older generation of workers.

The ramifications for this will be interesting to see. I imagine the bottom will fall out of some markets as money becomes tighter.