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Older Workers Know They Face An Unfriendly Labor Market

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Abstract

An examination of the status of older workers in the first quarter of 2020 reveals two highlights: older workers are more likely than younger workers to think they can't find a job comparable to their current one, a well-founded fear that persists at every earnings level and reflects the reality of an unfriendly labor market, and are less likely to quit their jobs without ability to find a better one, further eroding their bargaining power. Policy recommendations include increasing older workers' opportunities by increasing their bargaining power in the workplace, establishing a federal Older Workers Bureau, expanding Social Security, and creating universal Guaranteed Retirement Accounts & an emergency savings program.

Suggested Citation

  • Retirement Equity Lab, 2020. "Older Workers Know They Face An Unfriendly Labor Market," SCEPA publication series. 2020-01, Schwartz Center for Economic Policy Analysis (SCEPA), The New School.
    • Handle: RePEc:epa:cepapb:2020-01
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    File URL: https://www.economicpolicyresearch.org/images/Retirement_Project/status_of_older_workers_reports/OWAG_Q4_Design___V4__02102020.pdf
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    References listed on IDEAS

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    1. Michael Papadopoulos, 2020. "Reservation Wages and Work Arrangements: Evidence From The American Life Panel," SCEPA working paper series. 2020-01, Schwartz Center for Economic Policy Analysis (SCEPA), The New School.
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    Cited by:

    1. Monique Morrissey & Siavash Radpour & Barbara Schuster, 2023. "Older Workers and Retirement Security: a Review," SCEPA working paper series. 2023-01, Schwartz Center for Economic Policy Analysis (SCEPA), The New School.

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      Keywords

      older workers; employment; ageism; labor market; unemployment; wages; bargaining power;
      All these keywords.

      JEL classification:

      • E24 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity
      • J30 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - General
      • J38 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - Public Policy
      • J60 - Labor and Demographic Economics - - Mobility, Unemployment, Vacancies, and Immigrant Workers - - - General
      • J88 - Labor and Demographic Economics - - Labor Standards - - - Public Policy
      • J58 - Labor and Demographic Economics - - Labor-Management Relations, Trade Unions, and Collective Bargaining - - - Public Policy

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