IDEAS home Printed from https://ideas.repec.org/p/crr/crrwps/wp2008-8.html
   My bibliography  Save this paper

A Micro-Level Analysis of Recent Increases in Labor Force Participation Among Older Workers

Author

Listed:
  • Kevin E. Cahill
  • Michael D. Giandrea
  • Joseph F. Quinn

Abstract

Aggregate data reveal a sizable increase in labor force participation rates since 2000 among American workers on the cusp of retirement, reverting back to levels for older men not seen since the 1970s. While these aggregate numbers are useful in that they document overall trends, they do not elucidate the reasons behind workers’ decisions. The Health and Retirement Study (HRS), a nationally-representative, longitudinal survey of older Americans that spans 1992 to 2004, provides micro-level data regarding these retirement trends. Moreover, the HRS contains detailed information about the types of jobs older Americans are taking (e.g., full-time versus part-time, self-employed versus wage-and-salary, low-paying versus high-paying, blue collar versus white collar). This study capitalizes on the richness of the HRS data and explores labor force determinants and outcomes of older Americans, with an emphasis on retirees' choices in recent years. We present a cross-sectional and longitudinal description of the financial, health, and employment situation of older Americans. We then explore retirement determinants using multinomial logistic regression to model gradual retirement and logistic and OLS regression to model the work-leisure (whether to work) and hours intensity (how much to work) decisions of older workers. Evidence suggests that the majority of older Americans retire gradually, in stages, and that younger retirees continue to respond to financial incentives just as their predecessors did. In addition, the retirement decisions of younger and middle-aged retirees appear similar in the face of macro-level changes in the early part of this decade.

Suggested Citation

  • Kevin E. Cahill & Michael D. Giandrea & Joseph F. Quinn, 2008. "A Micro-Level Analysis of Recent Increases in Labor Force Participation Among Older Workers," Working Papers, Center for Retirement Research at Boston College wp2008-8, Center for Retirement Research, revised Feb 2008.
  • Handle: RePEc:crr:crrwps:wp2008-8
    as

    Download full text from publisher

    File URL: http://crr.bc.edu/working-papers/a-micro-level-analysis-of-recent-increases-in-labor-force-participation-among-older-workers/
    Download Restriction: no
    ---><---

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Michael D. Giandrea & Kevin E. Cahill & Joseph F. Quinn, 2007. "Bridge Jobs: A Comparison across Cohorts," Boston College Working Papers in Economics 670, Boston College Department of Economics, revised 22 Dec 2008.
    2. Macunovich, Diane J., 2009. "Older Men: Pushed into Retirement by the Baby Boomers?," IZA Discussion Papers 4652, Institute of Labor Economics (IZA).
    3. Vincenzo Galasso, 2012. "The Political Feasibility of Postponing Retirement," ifo DICE Report, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 10(4), pages 27-31, December.
    4. Brooke Helppie McFall & Amanda Sonnega & Robert J. Willis & Peter Hudomiet, 2015. "Occupations and Work Characteristics: Effects on Retirement Expectations and Timing," Working Papers wp331, University of Michigan, Michigan Retirement Research Center.
    5. Alicia H. Munnell & Steven A. Sass, 2007. "The Labor Supply of Older Americans," Working Papers, Center for Retirement Research at Boston College wp2007-12, Center for Retirement Research, revised Jun 2007.
    6. Alicia H. Munnell & Dan Muldoon & Steven A. Sass, 2009. "Recessions and Older Workers," Issues in Brief ib2009-9-2, Center for Retirement Research, revised Jan 2009.
    7. Macunovich, Diane J., 2009. "Older Women: Pushed into Retirement by the Baby Boomers?," IZA Discussion Papers 4653, Institute of Labor Economics (IZA).

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:crr:crrwps:wp2008-8. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Amy Grzybowski or Christopher F Baum (email available below). General contact details of provider: https://edirc.repec.org/data/crrbcus.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.