Over Half of Unemployed Older Workers at Risk of Involuntary Retirement

Michael Papadopoulos, Bridget Fisher, Teresa Ghilarducci and Siavash Radpour

No 2020-04, SCEPA publication series. from Schwartz Center for Economic Policy Analysis (SCEPA), The New School

Abstract: An examination of the status of older workers in the third quarter of 2020 reveals two highlights: millions of older workers have been pushed out of the workforce due to the Covid-19 recession and there is an increased risk of more involuntary retirements to come. Policy recommendations include Congress increasing and extending unemployment benefits for older workers, discourage withdrawals from 401(k)s and IRAs, lower Medicare eligibility to 50, and create a federal Older Workers Bureau.

Keywords: older workers; recession; COVID-19; coronavirus; downward mobility; poverty; unemployment; wages; involuntary retirement; retirement; 401k; Medicare; Older Workers Bureau (search for similar items in EconPapers)
JEL-codes: E24 J30 J38 J58 J60 J88 (search for similar items in EconPapers)
Date: 2020-08
New Economics Papers: this item is included in nep-age and nep-mac
References: Add references at CitEc
Citations:

Downloads: (external link)
https://www.economicpolicyresearch.org/images/INET ... Q1_2020_OWAG_V12.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:epa:cepapb:2020-04

Access Statistics for this paper

More papers in SCEPA publication series. from Schwartz Center for Economic Policy Analysis (SCEPA), The New School Contact information at EDIRC.
Bibliographic data for series maintained by Bridget Fisher ().