Older workers face higher unemployment amid virus pandemic
4 years, 2 months ago

Older workers face higher unemployment amid virus pandemic

Associated Press  

For the first time in nearly 50 years, older workers face higher unemployment than their midcareer counterparts, according to a study released Tuesday by the New School university in New York City. But in the current recession, older workers experienced higher unemployment rates than midcareer workers in each month since the onset of the pandemic. It found that the pandemic has posed a unique risk for older workers, said Teresa Ghilarducci, director of the New School’s Schwartz Center for Economic Policy Analysis. “The higher rate of unemployment for older workers might be because this is a once-in-a-lifetime chance for employers to shed older workers and not fear investigation by the labor department,” Ghilarducci said.

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History of this topic

Opinion: ‘Work longer’ is no solution for people who can’t afford to retire
9 months, 4 weeks ago

Opinion: ‘Work longer’ is no solution for people who can’t afford to retire

LA Times  

Working as a cashier is physically demanding and usually not well paid. Paradoxically, even as many older folks need to keep working to make ends meet, most people 62-70 are not able to work for a host of reasons and will retire with inadequate incomes or savings. As the Schwartz Center for Economic Policy Analysis reported in 2019: “Between the …

Inflation is driving older Americans back to work
2 years, 5 months ago

Inflation is driving older Americans back to work

LA Times  

Job seekers wait to be called at an employment center in Omaha. “People are staying inside their homes as much as possible because we can’t afford to go out.” The size of the U.S. workforce is nearly back to pre-pandemic levels, but the participation rate — the share of the overall population that’s either actively working or looking for a …

Op-Ed: Pushed to retire and to keep earning, older Americans face a peculiar vise
3 years, 2 months ago

Op-Ed: Pushed to retire and to keep earning, older Americans face a peculiar vise

LA Times  

The COVID-19 pandemic and ensuing recession have hit older workers especially hard. Research at the New School’s Schwartz Center for Economic Policy Analysis finds at least 1.7 million more older workers retired because of the pandemic recession than would have been expected without the downturn. Though a handful of older workers hold the nation’s most prominent jobs — in the …

Trump is driving millions of American seniors into poverty
4 years, 4 months ago

Trump is driving millions of American seniors into poverty

Salon  

Donald Trump's inept handling of the coronavirus pandemic is condemning millions of older Americans to get by on much smaller incomes and forcing many into permanent poverty, a new study shows. It also can force people to seek Social Security benefits at 62, normally the earliest eligible age, rather than collecting a larger benefit by waiting. There is a solution …

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