Age Differences in Job Loss, Job Search, and Reemployment

Brief

Age Differences in Job Loss, Job Search, and Reemployment

Working longer is often hailed as the best way to increase retirement incomes, yet this strategy depends crucially on seniors ability to find work and hold on to their jobs. This study examines how the incidence and consequences of job displacement vary by age. Results show that older workers are less likely than younger workers to lose their jobs, but only because they generally have spent more time with their employers. When older workers lose their jobs, it takes them longer than their younger counterparts to become reemployed, and when they do find work they generally experience sharp wage declines.

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