Older Workers - The New School SCEPA
Policy Note | In the United States, high overall rates of home ownership among households aged 55–64 obscure a vital reality. Many low-income older households risk financial fragility because they are renters and high rent burdens inhibit their ability to save for emergencies. Even middle- and high-income households who own their own homes risk housing-related financial fragility due to high mortgage debt. Overall rates of financial fragility, which include non-housing debt and emergency savings, remain high for all older households regardless of income. Our policy recommendations focus on supporting higher wages, solidifying emergency savings, and reforming the retirement system to reduce financial fragility at older ages.
Older workers are increasingly trapped in crummy jobs and unable to ever retire
The Older Workers and Retirement Chartbook from the Schwartz Center for Economic Policy Analysis and the Economic Policy Institute shows the risks to retirement security and disparities in retirement preparedness.
November 2022 Status of Older Workers Report
March 2022 Status of Older Workers Report
Brief— SCEPA's research finds nearly 1.5 million low-income older workers would benefit from an expansion of the popular Earned Income Tax Credit (EITC) program. The report—released by our Retirement Equity Lab (ReLab)—finds without expanding the EITC, the program actually lowers wages among non-educated workers, especially those over 55.
Brief— SCEPA's research finds nearly 1.5 million low-income older workers would benefit from an expansion of the popular Earned Income Tax Credit (EITC) program. The report—released by our Retirement Equity Lab (ReLab)—finds without expanding the EITC, the program actually lowers wages among non-educated workers, especially those over 55.
Research Note— New research shows that even before the COVID-19 recession, 55.3 percent of workers age 55 and up in the bottom half of the income distribution were forced to leave the workforce and 32.4 percent in the next 40% of the income distribution – the middle class – were forced out of work in old age.
Brief—2020 Q4 Status of Older Workers Report
Brief— Working longer is often proposed as the solution to the retirement crisis caused by older workers’ lack of retirement assets, but new research from SCEPA's ReLab shows this assumption doesn't match older workers' real experiences in the labor market.
Research note— new research shows regardless of the data source, retirement plan participation is low and stagnating.
Brief—Status of Older Workers Report
Brief—Status of Older Workers Report
On August 14th, the anniversary of the Social Security Act of 1935, the Joint Economic Committee (JEC) of U.S. Congress released two reports on the weakening of the American retirement system featuring research from SCEPA.
Brief— ReLab's chartbook documenting retirement insecurity and the decline in older workers' bargaining power is a resource for workers, employers, media, policymakers, scholars, and the broader public to answer questions about the state of older working America and retirement income security.
Working paper— Contrary to the predictions of theoretical models, working longer does not significantly increase the share of older workers who are financially prepared for retirement.
Brief— SCEPA's latest research finds that the COVID-19 recession worsens the inequality of job safety among older workers.
Our ongoing video series, SCEPA Responds, brings together expert economists, professors, fellows, and research associates to discuss current economic issues and challenge economic doctrines that create systemic inequity. The series focuses on areas such as race, monetary and fiscal policy, and economic growth and crisis, to provide insights for working families, older workers, the working poor, minorities, and more.
A retirement crisis looms as the labor market becomes less friendly to older workers when they are most numerous and least able to retire.
The stratification economics framework may best clarify the causes of racial health disparities and help to develop policy solutions.
Policy makers need to strengthen older workers’ fallback positions.
A realistic look at the disempowered status of America’s older workers and their rocky path to a secure retirement.
Working paper— Workers at all earnings levels would benefit from expanding Social Security. SCEPA proposes defaulting workers into “Catch-Up” contributions, where— starting at age 50— they would contribute an additional 3.1% of their salary. The increase in alternative work arrangements among older workers is due to low wages stemming from older workers' decreased bargaining power.
Working paper— Social Security benefits are progressive and reduce the unequal distribution of retirement wealth generated by a broken employer-based retirement systeThe Earned Income Tax Credit (EITC) can cause wage declines for workers who do not receive the tax credit.
Working paper— Social Security benefits are progressive and reduce the unequal distribution of retirement wealth generated by a broken employer-based retirement system. This study identifies what is driving the loss of bargaining power suppressing older workers' wages.
December 2018 Unemployment Report for Workers Over 55
November 2018 Unemployment Report for Workers Over 55
October 2018 Unemployment Report for Workers Over 55
December 2015 Unemployment Report for Workers Over 55
September 2018 Unemployment Report for Workers Over 55
August 2018 Unemployment Report for Workers Over 55
July 2018 Unemployment Report for Workers Over 55
June 2018 Unemployment Report for Workers Over 55
May 2018 Unemployment Report for Workers Over 55
April 2018 Unemployment Report for Workers Over 55
March 2018 Unemployment Report for Workers Over 55
February 2018 Unemployment Report for Workers Over 55
January 2018 Unemployment Report for Workers Over 55
December 2017 Unemployment Report for Workers Over 55
November 2017 Unemployment Report for Workers Over 55
October 2017 Unemployment Report for Workers Over 55
September 2017 Unemployment Report for Workers Over 55
August 2017 Unemployment Report for Workers Over 55
July 2017 Unemployment Report for Workers Over 55
June 2017 Unemployment Report for Workers Over 55
May 2017 Unemployment Report for Workers Over 55
April Unemployment Report for Workers Over 55
This week's Worldly Philosopher, Ismael Cid-Martinez, reveals the challenges older workers face in the labor market.
This paper recommends expanding and reforming retraining programs and the creation of tax incentives.
While the harm caused by unemployment is unique to each person, this study focuses on the staggering variety of challenges and perils shared by older people.
The January issue of the Retirement Income Journal features a review of "Falling Short," the new book about America's retirement crisis from the Center for Retirement Research at Boston College, by SCEPA Director Teresa Ghilarducci. Ghilarducci describes the book as an elegant and comprehensive description of the problems causing the crisis, but disagrees with the proposed solution: working longer and retiring later.
Brief — November 2015 Unemployment Report for Workers Over 55
