Full Citation
Title: COVID-19 and Labor Outcomes of Older Workers
Citation Type: Miscellaneous
Publication Year: 2022
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Abstract: Older workers were mostly in a disadvantageous position in the job market during the COVID-19 recession due to their high risk of infection and the likelihood of age discrimination. Despite a growing literature on the labor impacts of the COVID-19 recession on older workers, only a few papers highlight the disproportionate impacts of the current recession on older workers and discuss whether this recession hit older workers differently from other recessions. I use monthly Current Population Survey data to analyze the impacts of COVID-19 on multiple labor outcomes of older workers, such as labor force participation rates, unemployment rates, and unemployment duration. I found that COVID-19 hit the employment of 65+ workers harder than younger workers; however, they recovered faster in December 2021. In contrast, although older workers were more likely to leave the labor force, they were less likely to rejoin than younger workers. Furthermore, older workers took longer to find jobs in the post-COVID period, suggesting evidence of age discrimination. Among 55+ workers, women suffered more substantial impacts but improved better than men. 55+ Asians, both men and women, experienced the most significant effects on labor force participation and unemployment rates; however, their recovery was slower than others. Among five recent recessions, the COVID-19 recession hit older workers, particularly women, the most significantly. Older workers recovered their employment quickly, within 22 months, while it took much longer to bounce back in the other recessions. However, there was no significant improvement in their labor force participation in the current recession, which is inconsistent with the patterns in most of the previous recessions.
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Authors: Bui, Truc
Publisher: Tulane University
Data Collections: IPUMS CPS
Topics: Aging and Retirement, Health, Labor Force and Occupational Structure
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