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New Policies for an Older Unemployed Population

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Abstract

This study updates what we know about the Great Recession’s impact on older unemployed Americans’ health and pre-retirement life by focusing on their wealth and income sources, health insurance access, poverty rates, unemployment duration, labor force drop-out rates, and Social Security claiming from 2009 through 2012 using the Survey of Income and Program Participation (SIPP) and the Current Population survey (CPS) (Sum, Ishwar and Trubskyy. 2011, Rix 2011 and Van Horn, Corre and Heidkamp 2011). A unique contribution is an in-depth description of unemployed older Americans’ asset levels using recent cross-sectional and longitudinal data that tracks individuals over time to evaluate how their assets changed because of unemployment. All this information helps evaluate how unemployed older Americans have weathered the Great Recession of 2007, five years later.

Suggested Citation

  • Joelle Saad-Lessler & Teresa Ghilarducci, 2013. "New Policies for an Older Unemployed Population," SCEPA working paper series. SCEPA's main areas of research are macroeconomic policy, inequality and poverty, and globalization. 2013-3, Schwartz Center for Economic Policy Analysis (SCEPA), The New School.
  • Handle: RePEc:epa:cepawp:2013-3
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    1. Chan Sewin & Stevens Ann H, 2004. "How Does Job Loss Affect the Timing of Retirement?," The B.E. Journal of Economic Analysis & Policy, De Gruyter, vol. 3(1), pages 1-26, May.
    2. Bonsang, Eric & Klein, Tobias J., 2012. "Retirement and subjective well-being," Journal of Economic Behavior & Organization, Elsevier, vol. 83(3), pages 311-329.
    3. Courtney C. Coile & Phillip B. Levine, 2007. "Labor Market Shocks and Retirement: Do Government Programs Matter?," NBER Chapters,in: Public Policy and Retirement, Trans-Atlantic Public Economics Seminar (TAPES), pages 1902-1919 National Bureau of Economic Research, Inc.
    4. Richard W. Johnson & Corina Mommaerts, 2011. "Age Differences in Job Displacement, Job Search, and Reemployment," Working Papers, Center for Retirement Research at Boston College wp2011-3, Center for Retirement Research, revised Jan 2011.
    5. Bender, Keith A. & Theodossiou, Ioannis, 2009. "Controlling for endogeneity in the health-socioeconomic status relationship of the near retired," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 38(6), pages 977-987, December.
    6. Timothy J. Bartik & Susan n. Houseman (ed.), 2008. "A Future of Good Jobs? America's Challenge in the Global Economy," Books from Upjohn Press, W.E. Upjohn Institute for Employment Research, number fgj, November.
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    More about this item

    Keywords

    Retirement; retirement savings; elderly poverty;

    JEL classification:

    • J14 - Labor and Demographic Economics - - Demographic Economics - - - Economics of the Elderly; Economics of the Handicapped; Non-Labor Market Discrimination
    • J26 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Retirement; Retirement Policies
    • D14 - Microeconomics - - Household Behavior - - - Household Saving; Personal Finance

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