How Have Older Workers Fared During the COVID-19 Recession?

Geoffrey Sanzenbacher

No 21-07, Issues in Brief from Center for Retirement Research

Abstract: The discussion proceeds as follows. The first section describes the CPS data. The second section presents the results for those ages 50-61, and the third section presents the results for those 62+. The final section concludes that, not surprisingly, recessions generally hit low earners harder than high earners. And, for low earners as a group, the COVID Recession was slightly worse than the Great Recession. Interestingly, the oldest high earners (ages 62+) did worse in the COVID Recession than they did in the Great Recession, both in terms of general labor force exits and outright retirement.

Pages: 5 pages
Date: 2021-04
New Economics Papers: this item is included in nep-age and nep-hea
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