Older Workers - The New School SCEPA

Working Paper—The popular EITC program is credited with encouraging employment and reducing poverty. But a SCEPA working paper suggests it may also reduce wages for low-education workers, including older workers who do not receive EITC benefits at the same rate as younger workers.

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.

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.

On Thursday, May 28th SCEPA's Retirement Equity Lab (ReLab) and the Economic Policy Institute (EPI) partnered together for a webinar on the harsh economic effects COVID-19 is having on some of our most vulnerable: older workers.

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

December 2015 Unemployment Report for Workers Over 55

September 2018 Unemployment Report for Workers Over 55

July 2018 Unemployment Report for Workers Over 55

May 2018 Unemployment Report for Workers Over 55

March 2018 Unemployment Report for Workers Over 55

February 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

July 2017 Unemployment Report for Workers Over 55

June 2017 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.

bookThe 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

December 2016 Unemployment Report for Workers Over 55