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Working Paper | This article documents risks and disparities among older workers in the labor force and in retirement preparedness and explores the links between labor market challenges facing older workers and retirement insecurity.

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. 

Policy Note | Unpaid care work — the vast majority of such work in the United States — is primarily shouldered by economically vulnerable people. The costs associated with unpaid care work compound existing economic insecurity, leading to higher rates of poverty in old age. It is essential to support informal caregivers by recognizing caregiving as work and expanding their access to social safety net programs and providing paid family care leave. 

Research Note | Unfriendly Labor Markets for Older Workers Require Bold Moves for Retirement Savings: Analysis of Labor Force Engagement of Older People in Selected States

Paper | Over the last few years, economists have focused on the long-run effects of persistent shocks on economic output. In this paper, we use a small-scale macroeconomic model to show how the macroeconomy adjusts to a deep contraction and how credit dynamics, along with the monetary policy design, may influence the extent of these scars through numerical simulations. 

Policy Note | The Earned Income Tax Credit (EITC), a popular federal program that has been replicated in many states and lifts millions out of poverty, has historically excluded most older workers from receiving benefits at the same rate as their younger counterparts. A New York state expansion of its EITC program would benefit tens of thousands of older low-income New Yorkers, thereby supporting them at a vital time in their work lives and benefiting the state economy.