Older Workers’ Employment and Social Security Spillovers through the Second Year of the COVID-19 Pandemic

Gopi Goda, Emilie Jackson, Lauren Nicholas and Sarah Stith

No 30567, NBER Working Papers from National Bureau of Economic Research, Inc

Abstract: The COVID-19 pandemic triggered a large and immediate drop in employment among US workers, along with major expansions of unemployment insurance and work from home. We use Current Population Survey and Social Security application data to study employment among older adults and their participation in disability and retirement insurance programs through the second year of the pandemic. We find ongoing improvements in employment outcomes among older workers in the labor force, along with sustained higher levels in the share no longer in the labor force during this period. Applications for Social Security disability benefits remain depressed, particularly for Supplemental Security Income. In models accounting for the expiration of expanded unemployment insurance, we find some evidence that the loss of these additional financial supports resulted in an increase in disability claiming. Social Security retirement benefit claiming is approximately 3 percent higher during the second year of the pandemic.

JEL-codes: H31 H5 J14 J26 (search for similar items in EconPapers)
Date: 2022-10
New Economics Papers: this item is included in nep-age, nep-lma and nep-pbe
Note: AG LS PE
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Published as Gopi Shah Goda & Emilie Jackson & Lauren Hersch Nicholas & Sarah See Stith, 2023. "Older workers’ employment and Social Security spillovers through the second year of the COVID-19 pandemic," Journal of Pension Economics and Finance, vol 22(4), pages 524-549.
Published as Older Workers’ Employment and Social Security Spillovers through the Second Year of the COVID-19 Pandemic , Gopi Shah Goda, Emilie Jackson, Lauren Hersch Nicholas, Sarah See Stith. in The Labor Market for Older Workers , Clark, Milligan, and Newhouse. 2023

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