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How Have Older Workers Fared During the COVID-19 Recession?

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  • Geoffrey T. Sanzenbacher

Abstract

The discussion proceeds as follows. The first section describes the CPS data. The second section presents the results for those ages 50-61, and the third section presents the results for those 62+. The final section concludes that, not surprisingly, recessions generally hit low earners harder than high earners. And, for low earners as a group, the COVID Recession was slightly worse than the Great Recession. Interestingly, the oldest high earners (ages 62+) did worse in the COVID Recession than they did in the Great Recession, both in terms of general labor force exits and outright retirement.

Suggested Citation

  • Geoffrey T. Sanzenbacher, 2021. "How Have Older Workers Fared During the COVID-19 Recession?," Issues in Brief 21-07, Center for Retirement Research.
    • Handle: RePEc:crr:issbrf:ib2021-07
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    File URL: https://crr.bc.edu/briefs/how-have-older-workers-fared-during-the-covid-19-recession/
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