Retirement and Older Americans

Publications on Retirement and Older Americans

As unemployment surged during the Great Recession and subsequent recovery, older workers were less likely than their younger counterparts to lose their jobs. However, unemployed workers in their fifties were about a fifth less likely than those age 25 to 34 to become reemployed between 2008 and 2011, and they experienced steep wage losses. Median hourly earnings for reemployed workers age 51 to 61 were 21 percent lower on the new job than the prelayoff job, compared with only 7 percent for those age 25 to 34. These declines may reflect lost productivity or employer reluctance to hire older workers.

The recession has increased joblessness among older Americans. These graphs and tables report unemployment rates and how they have varied by age, sex, race, and education since 2007.

The What Works Collaborative is a foundation-supported partnership that conducts timely research and analysis to help inform an evidence-based housing and urban policy agenda. In its latest effort, the Collaborative engaged with experts to identify unanswered questions critical to policy development, and from this derive "field-building" research agendas. These agendas are intended to help guide investments that will inform and advance policy and practice over the next three to five years on five broad policy domains: housing as a platform for overcoming social and economic distress, housing markets, housing finance, successful neighborhoods, and the physical landscape of the next American economy. This summary is part of a series of field-building research agendas produced under the What Works Collaborative. More information can be found on the What Works Collaborative web page.

This policy framing paper is one of three that explores the potential for housing combined with support services to create better outcomes for vulnerable populations. The aging of the U.S. population will have profound implications for society, the economy, and the health care system. This paper focuses on mitigating the impacts on low-income older renters and on how housing can provide a platform for supporting their independence and well-being. The authors establish a theoretical basis and empirical evidence that shows a link between favorable housing and positive life outcomes. They propose research that can inform policymakers and practitioners in meeting the housing and service needs of this at-risk group. This framing paper is part of a series of field-building research agendas produced under the What Works Collaborative. More information can be found on the What Works Collaborative web page

There are two worlds of personal finance: mainstream vs. low-income personal finance. The former focuses on savings and investment, the latter (for those with low or moderate incomes) on asset building and benefits, such as Social Security. Current pension and housing subsidies are weighted toward higher-income people, and may even discourage saving among the less well off. Many low- and middle-income households do not receive financial advice on when to retire, how to arrange Social Security benefits, and homeownership, despite these being their most important retirement decisions.