Urban Institute: Employment

Short-Time Compensation as a Policy to Stabilize Employment

paffairs@urban.org ( Wayne Vroman, Vera Brusentsev ) — Thu, 19 Nov 2009 00:00:00 EST

Short time compensation (STC or work sharing) is a labor adjustment measure designed to reduce or eliminate reliance on layoffs when firms need to reduce hours worked. It spreads the reduction in hours among a wide pool of workers and provides partial unemployment compensation (UC) for the reduced hours. This paper examines STC with attention to experiences in Canada and Germany as well as the United States. It also suggests ways to increase STC use in the United States.

Unemployment Statistics on Older Americans : Updated 11/09

paffairs@urban.org ( Richard W. Johnson, Corina Mommaerts ) — Fri, 06 Nov 2009 00:00:00 EST

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.

Retirement Account Balances

paffairs@urban.org ( Barbara Butrica, Philip Issa, Mauricio Soto ) — Thu, 05 Nov 2009 00:00:00 EST

The retirement savings of American households took a big hit when the stock market crashed in 2008. Recently, however, a good portion of these losses has been reversed. This fact sheet follows trends in retirement account balances since the beginning of 2005.

Expanding the EITC to Help More Low-Wage Workers

paffairs@urban.org ( Harry Holzer, Additional Authors ) — Mon, 02 Nov 2009 00:00:00 EST

The case for expanding the EITC for workers without qualifying children is compelling, as the current EITC provides little help to this group. We argue that the EITC for these workers should: - provide these workers with a strong incentive to increase work effort; - provide a significant subsidy to low-earning workers working near a full-time work level; - begin phasing out only after an individual is working at a level at least equivalent to full-time minimum wage work; - apply to both prime-age and younger workers; and - be effectively coordinated with the Making Work Pay Credit.

Rising Senior Unemployment and the Need to Work at Older Ages

paffairs@urban.org ( Richard W. Johnson ) — Mon, 28 Sep 2009 00:00:00 EST

Unemployment rates for older workers reached record levels in 2009, partly because fewer workers eligible for early retirement benefits are dropping out of the labor force. Growing concerns about the adequacy of retirement savings and whether retirees will have enough money to live comfortably in later life appear to have discouraged early retirement. Instead, more older workers are now remaining in the labor force and searching for work after they lose their jobs. The need for older adults to keep working raises the imperative for new policies that help address the special challenges that older job seekers face.

Testimony on Income and Poverty in the United States: 2008 : Before the Joint Economic Committee of the United States Congress

paffairs@urban.org ( Harry Holzer ) — Thu, 10 Sep 2009 00:00:00 EST

Between 2007 and 2008, real incomes fell and poverty rose in the United States, Institute Fellow Harry Holzer testified before the Joint Economic Committee of Congress. Even if the recession ends this year, rising unemployment will mean that real income keeps falling while poverty increases for a few more years and almost certainly by much more than occurred between 2007 and 2008. It will likely take several years beyond 2010 before real income and poverty fully recover from the effects of the downturn.

How Is the Financial Crisis Affecting Retirement Savings? : August 2009, Update

paffairs@urban.org ( Mauricio Soto ) — Wed, 09 Sep 2009 00:00:00 EST

The stock market lost 56 percent of its value between September 30, 2007, and March 9, 2009. These losses reduced the retirement savings of American households. Recently, however, a good portion of these losses has been reversed. Equities gained 53 percent between March 9, 2009 and August 31, 2009.

The Nursing Workforce Challenge : Public Policy for a Dynamic and Complex Market

paffairs@urban.org ( Randall R. Bovbjerg, Barbara A. Ormond, Nancy M. Pindus ) — Mon, 31 Aug 2009 00:00:00 EST

Nurses are health care's backbone, spending the most time with patients, and working with teams of caregivers in institutions and serving as advanced practice nurses in primary care settings. Short-term shortages wax and wane, but concerns about a shortage are more serious now because the next decade may see more older nurses retiring than new ones entering the workforce. Education needs to be augmented and improved, but no precise estimation method can show how many nurses society "should" produce. Policy should focus more on nurses' scopes of practice and aligning how they are treated and paid with the value they add to patient care.

Transition to Adulthood: African American Youth and Youth from Low-Income Working Families

paffairs@urban.org ( Marla McDaniel, Daniel Kuehn ) — Thu, 27 Aug 2009 00:00:00 EST

The fact sheets examine the transition to adulthood for two groups of youth using the National Longitudinal Survey of Youth, 1997 cohort. Low-income African Americans are compared to low-income white youth, and youth from low-income "high-work" families are compared to low-income youth from moderate-work and nonworking (i.e., low-work) families. Low-income African American youth are vulnerable to lower employment and earnings despite comparable levels of high school education and lower risk-taking behaviors. Low-income youth from high-work families show stronger connections to school or work compared to youth from low-work families, but have comparable employment and earnings during the transition to adulthood.

A better way to get educated, employed

paffairs@urban.org ( Robert I. Lerman ) — Mon, 03 Aug 2009 00:00:00 EST

If you think apprenticeship sounds like a relic from centuries past — good enough for Ben Franklin but a no-go in a 21st-century economy — think again, Institute Fellow Robert Lerman explains in a commentary for thestate.com

Unemployment Compensation in a Worldwide Recession

paffairs@urban.org ( Wayne Vroman, Vera Brusentsev ) — Wed, 01 Jul 2009 00:00:00 EST

This paper examines data on unemployment compensation programs across a sample of 150 large countries that account for 99 percent of the world's population. It documents recipiency rates and replacement rates in the 66 countries with UC programs. It makes comparisons of the degree of earnings loss protection in countries arranged by geographic area and by income level. Overall it finds that UC replaces 11.7 percent of the earnings losses caused by unemployment.

Changes to the Tax Exclusion of Employer-Sponsored Health Insurance Premiums: A Potential Source of Financing for Health Reform

paffairs@urban.org ( Lisa Clemans-Cope, Stephen Zuckerman, Roberton Williams ) — Fri, 26 Jun 2009 00:00:00 EST

Many have suggested that reducing or eliminating the tax exclusion of employer-sponsored health insurance (ESI) could generate significant additional tax revenue to fund expansions in health insurance coverage. In this paper, we focus on two specific policy design elements: (1) a cap, or dollar limit, on the amount of employer-sponsored health insurance premiums excluded from taxable income; and (2) an index that determines how this cap might grow over time. Our analysis shows that limiting the tax exclusion would provide substantial funding for health reform and mitigate the huge inequities built into the current treatment of employer premiums.

The Benefits and Challenges of Registered Apprenticeship: The Sponsors' Perspective

paffairs@urban.org ( Robert I. Lerman, Lauren Eyster, Kate Chambers ) — Fri, 12 Jun 2009 00:00:00 EST

This report analyzes a survey of a nationally representative sample of sponsors of registered apprenticeship programs. Commissioned by the Employment and Training Administration of the U.S. Department of Labor, the survey includes questions about how sponsors (mainly employers) view their registered apprenticeship programs. The study analyzes these survey responses on the value, benefits, and drawbacks of registered apprenticeship, its integration with the workforce investment systems, apprentice completion and reasons for non-completion, and suggestions for possible improvement. In general, sponsors report highly positive attitudes about registered apprenticeship as a system for training their workforce.

Low-Income Working Families: Updated Facts and Figures

paffairs@urban.org ( Alexandra Stanczyk ) — Thu, 11 Jun 2009 00:00:00 EST

A large percentage of American families have low incomes, which lead to a host of challenges and disadvantages for both parents and children. In 2006, one out of every three families with children had incomes below twice the federal poverty level (FPL): $40,888 for a family with two adults and two children. While these families face many of the same challenges as other families, they are particularly financially vulnerable. This fact sheet provides statistics on the work effort, earnings, health care access and other characteristics of these families.

Risk and Recovery: Documenting the Changing Risks to Family Incomes

paffairs@urban.org ( Gregory Acs, Pamela J. Loprest, Austin Nichols ) — Fri, 22 May 2009 00:00:00 EST

Using the 1996, 2001, and 2004 panels of the Survey of Income and Program Participation, this brief examines the likelihood that nonelderly individuals in families with children experience substantial drops in family income and recoveries from such drops. Over 13 percent of families see their incomes fall by half at some point over the course of a year with the lowest- and highest-income families the most likely to experience a substantial income loss. Further, only two in five individuals recover to at least 100 percent of their pre-drop income in the year after the drop.

Health Reform: The Cost of Failure

paffairs@urban.org ( John Holahan, Bowen Garrett, Irene Headen, Aaron Lucas ) — Thu, 21 May 2009 00:00:00 EST

This report uses the Health Insurance Policy Simulation Model (HIPSM) to quantify the intermediate and longer-term implications if Americas health care system is not significantly overhauled.Under a range of economic scenarios, the analysis shows an increasing strain on business owners and their employees over the next decade if reform is not enacted.There would be a dramatic decline in the number of people insured through employers, and millions more could become uninsured.There would be large growth in Medicaid/CHIP enrollment and spending, and increased spending on uncompensated health care.Middle-income working families would be the most affected.

Disabilities Among TANF Recipients: Evidence from the NHIS

paffairs@urban.org ( Pamela J. Loprest, Elaine Maag ) — Thu, 14 May 2009 00:00:00 EST

This project uses data from the 2005/2006 National Health Interview Survey to provide a profile of the prevalence of different types of disability and employment among TANF recipients. We find that prevalence of disability varies widely depending on the specific measure used. Using narrow and broad composite disability measures, anywhere from 10 to 40 percent of TANF recipients have a disability and almost one-fifth have a family member with a disability. Disability prevalence among Food Stamp recipients is similar to TANF but low-income mothers have lower prevalence on almost all measures. Employment among TANF recipients with disabilities is considerably lower than among recipients without disabilities.

Older Workers on the Move: Recareering in Later Life

paffairs@urban.org ( Richard W. Johnson, Janette Kawachi, Eric Lewis ) — Thu, 14 May 2009 00:00:00 EST

Career change is common at older ages. This report shows that 27 percent of workers employed full time at age 51 to 55 change occupations by age 65 to 69. More than one-third of older job leavers separate because of job layoffs or health problems, including nearly half of those who did not complete high school. Workers who change careers typically move into jobs that pay less than their previous jobs and are less likely to offer pension and health benefits. However, new careers tend to offer more flexible employment arrangements, less stressful working conditions, and fewer managerial responsibilities.

How Is the Financial Crisis Affecting Retirement Savings? : May 2009, Update

paffairs@urban.org ( Mauricio Soto ) — Thu, 14 May 2009 00:00:00 EST

The stock market gained 35 percent between March 9, 2009 and May 5, 2009. For those who held on to their equities, these gains reversed some of the massive losses experienced since September 2007. This fact sheet examines the impact of the ongoing economic turmoil on older households and presents estimates of the retirement account losses to date.

Employers' Perspectives on San Francisco's Paid Sick Leave Policy

paffairs@urban.org ( Shelley Waters Boots, Karin Martinson, Anna Danziger ) — Tue, 21 Apr 2009 00:00:00 EST

This report summarizes strategies San Francisco employers used to implement the nation's first law requiring paid sick days for all employees, based on interviews with a sample of businesses. Although employers faced three new policies that affected staff wages and benefits, they were able to implement the paid sick leave requirement with minimal impacts to their business. The report details employer responses to the law in their operations, staffing, employee benefit packages, and reporting requirements. By assessing employers' perspectives on the operational challenges of the law, the study provides lessons to inform future research and policymaking.

Rising Tides and Retirement: The Aggregate and Distributional Effects of Differential Wage Growth on Social Security

paffairs@urban.org ( Melissa Favreault ) — Thu, 16 Apr 2009 00:00:00 EST

Recent growth in wage inequality has important implications for Social Security solvency and benefit distributions. Because only earnings below the taxable maximum are subject to payroll taxes, concentrated wage growth among higher earners generates less revenue than more evenly distributed growth. Social Security's progressive benefit formula increases benefit payouts when shares of workers with low wages grow. We use a dynamic microsimulation model to examine aggregate and distributional consequences of alternative scenarios about future wage growth. We find that relatively modest changes in assumptions about wage differentials generate marked changes in projected Social Security benefits, poverty, and long-term financing status.

The Impact of Changing Earnings Volatility on Retirement Wealth

paffairs@urban.org ( Austin Nichols, Melissa Favreault ) — Thu, 16 Apr 2009 00:00:00 EST

Over the past several decades, the volatility of family income has increased markedly, and own earnings volatility has remained relatively flat. Volatility may affect retirement wealth, depending on whether volatility affects accrued pension contributions or withdrawals or earnings credited toward future Social Security benefits. This project assesses the effect of the volatility of individual and family earnings on asset accumulation and projected retirement wealth using survey data matched to administrative earnings records.

Assisting Newcomers through Employment and Support Services : An Evaluation of the New Americans Centers Demonstration Project in Arkansas and Iowa

paffairs@urban.org ( Robin Koralek, Joanna Parnes ) — Wed, 15 Apr 2009 00:00:00 EST

The U.S. Department of Labor Employment and Training Administration (ETA) provided a three-year demonstration grant to Arkansas and Iowa to develop New Americans Centers (NACs) in high immigrant population areas. The purposes of the grant are to promote stability and rapid employment with living wages, speed the transition of new immigrants into communities, assist employers, and enhance local economic development opportunities. This paper is the first report in an ongoing Urban Institute evaluation of the NACs. It focuses on the initial implementation phase of the NACs, highlighting start-up and early operation as well as the types of services participants receive.

The Stimulus Package (HR1) and Low-Income Families

paffairs@urban.org ( Margaret Simms ) — Wed, 08 Apr 2009 00:00:00 EST

This speech, given at the University of Chicago's School of Social Service Administration, discusses how the stimulus package addresses the policy needs of low-income working families. It focuses on three questions: how it might reduce poverty in the short term; how it might help position service providers for addressing poverty in the long term; and what researchers can do to inform future policies in this area. Efforts are compared to the following goals: increasing wages, promoting job stability and upward mobility, and providing income supports when needed.

Fresh Ideas On Work-Life Balance Explored in New Book

paffairs@urban.org ( The Urban Institute ) — Thu, 26 Mar 2009 00:00:00 EST

Work-Life Policies, a new Urban Institute Press book, explains that even the most generous policy does little to accommodate workers' outside responsibilities if a job's structure or colleagues' attitudes undermine the policy. Work-Life Policies details the latest researchfrom sociologists, psychologists, lawyers, and management scholarsand underscores the importance of tailoring effective accommodations for all employees: male or female, parents or childless, salaried or hourly, near the end of one's career or new to the workforce.

Disability Onset Among Working Parents : Earnings Drops, Compensating Income Sources and Health Insurance Coverage

paffairs@urban.org ( Cynthia Perry, Genevieve M. Kenney, Bogdan Tereshchenko ) — Wed, 25 Mar 2009 00:00:00 EST

This paper examines work-limiting disability using the 1996 and 2001 panels of the Survey of Income and Program Participation. Nearly 10 percent of employed parents developed or had a recurring disability over the course of the panel. For about a quarter of this group, earnings dropped by more than 25 percent of family income, with other income sources offsetting only a small fraction of lost earnings. In addition, workers who hold health insurance policies through their employer were less likely to reduce hours worked or leave their job following disability onset, effects consistent with job lock.

Working for Cents on the Dollar : Race and Ethnic Wage Gaps in the Noncollege Labor Market

paffairs@urban.org ( Gregory Acs, Pamela J. Loprest ) — Wed, 25 Mar 2009 00:00:00 EST

This paper uses data from the 2007 Survey of Employers in the Low-Skill Labor Market to analyze whether wage differences among workers of different races and ethnicities in the low-skill labor market remain after controlling for individual, job, and employer characteristics. The employer-provided data include detailed information on job requirements and employer characteristics rarely available in household surveys. We find that black workers earn significantly less than white workers in the less-skilled labor market, and a significant difference (12 percent) remains even after controlling for worker, job, and employer characteristics.

Financial Hardship before and after Social Security's Eligibility Age

paffairs@urban.org ( Richard W. Johnson, Gordon Mermin ) — Tue, 24 Mar 2009 00:00:00 EST

Although poverty rates for Americans age 65 and older have plunged over the past half century, many people continue to fall into poverty as they approach 62, Social Security's early eligibility age. Among those who did not complete high school, hardship rates increase from 23 percent at age 52 to 54 to 31 percent at age 60 to 61, a relative increase of 36 percent. Hardship rates decline after age 62, when most people qualify for Social Security. These findings highlight the fragility of the income support system for Americans in their fifties and early sixties.

Unemployment Insurance in the American Recovery and Reinvestment Act (HR1)

paffairs@urban.org ( Wayne Vroman ) — Fri, 20 Mar 2009 00:00:00 EST

The economic stimulus bill enacted on February 17, 2009 has several provisions related to unemployment insurance (UI). Several governors have objected to some provisions. In this document, Senior Fellow Wayne Vroman, an economist and researcher on UI, answers key questions about the program changes.

The Minnesota Integrated Services Project : Final Report on an Initiative to Improve Outcomes for Hard-to-Employ Welfare Recipients

Fri, 20 Mar 2009 00:00:00 EST

The Minnesota Integrated Services Projects focus on improving the delivery of employment, health, and social services to families who receive cash assistance and have serious or multiple barriers to employment. Operating in eight sites, the project seeks to provide comprehensive assessments of participants' barriers, improve access to more complete services that address multiple needs, and coordinate services provided by multiple service systems. This is the final report in an evaluation of the project and describes the changes in the economic outcomes and family-related outcomes of ISP participants over a two-year period, provides estimates of the relationship between ISP participation and participants' employment and MFIP outcomes, and provides conclusions and policy recommendations.

Comparisons of MINT 2003 and 2004 Projections with Survey Data

paffairs@urban.org ( Karen E. Smith, Katherine Michelmore, Eric Toder ) — Thu, 19 Mar 2009 00:00:00 EST

This report compares projections of income and assets from the Model of Income in the Near Term (MINT) with data from the Survey of Income and Program Participation (SIPP), the Health and Retirement Study (HRS), the Survey of Consumer Finances (SCF), and the Current Population Survey (CPS). The comparison reveals a fair amount of variability in population characteristics and reported income and assets among these data files. There is no "right" answer, but rather a range of possible answers. For most statistics we compare, MINT's projected values fall between the highest and lowest values among the survey data.

How Is the Financial Crisis Affecting Retirement Savings?

paffairs@urban.org ( Mauricio Soto ) — Fri, 13 Mar 2009 00:00:00 EST

The stock market lost 56 percent of its value between September 30, 2007 and March 6, 2009, a roughly $13 trillion drop. The loss has reduced the retirement savings of many Americans, particularly older adults. This fact sheet examines the impact of the ongoing economic turmoil on older households and presents estimates of the retirement account losses to date.

Unemployment Rate Hits All-Time High for Adults Age 65 and Older

paffairs@urban.org ( Richard W. Johnson, Corina Mommaerts ) — Thu, 12 Mar 2009 00:00:00 EST

The unemployment rate for adults age 65 and older reached 6.8 percent in February 2009, the highest level recorded since the federal government began computing reliable unemployment rates in 1948. Senior unemployment rates were particularly high among African Americans, Hispanics, those who did not complete high school, and those in the construction, manufacturing, and leisure and hospitality industries.

Promoting Economic Security at Older Ages through Workforce Development : Written Testimony to the Senate Special Committee on Aging U.S. Congress

paffairs@urban.org ( Richard W. Johnson ) — Fri, 27 Feb 2009 00:00:00 EST

The 2008-2009 collapse in the stock market wiped out trillions of dollars in retirement account wealth and forced millions of boomers to rethink their retirement plans. Working longer is commonly seen as the key solution to the retirement financing dilemma. However, poor job prospects prevent many older people with limited education from working into later life. This testimony for the Senate Special Committee on Aging argues that Congress could improve the economic security of these older adults in retirement and in the years leading up to retirement by increasing government-funded employment and training services.

Job Differences by Race and Ethnicity in the Low-Skill Job Market : Brief No. 4

paffairs@urban.org ( Gregory Acs, Pamela J. Loprest ) — Tue, 17 Feb 2009 00:00:00 EST

This brief uses data from the 2007 Survey of Employers in the Low-Skill Labor Market to examine differences in the noncollege jobs held by workers of different races and ethnicities and the impact of these differences on wage rates.

Unemployment Rate Soars for Older Men with Limited Education

paffairs@urban.org ( Richard W. Johnson, Corina Mommaerts ) — Thu, 12 Feb 2009 00:00:00 EST

As the recession enters its 15th month, job losses continue to accelerate. The downturn has not spared older workers. The January 2009 unemployment rate reached 6.0 percent at age 55 to 64 and 5.7 percent at age 65 and older. Hispanic men, older men working in construction and manufacturing, and those with limited education have been hit hardest.

Do Education and Training Belong in the Recovery Package?

paffairs@urban.org ( Harry Holzer ) — Fri, 06 Feb 2009 00:00:00 EST

Ramped-up education spending should be part of an economic stimulus package, Institute Fellow Harry Holzer argues, because it will increase the gross domestic product, lead to more hiring, add income to local economies, and contribute to future productivity.

Unemployment Insurance: Current Situation and Potential Reforms

paffairs@urban.org ( Wayne Vroman ) — Wed, 04 Feb 2009 00:00:00 EST

This short paper summarizes the current situation of state unemployment insurance (UI) programs in the United States. It describes benefit recipiency, UI trust fund balances and administrative financing. Policies are recommended to increase solvency of the trust funds, raise recipiency rates and to improve the adequacy of administrative funding.

Five Questions for Wayne Vroman

paffairs@urban.org ( Wayne Vroman ) — Sun, 01 Feb 2009 00:00:00 EST

Vroman recommended that Ohio raise unemployment taxes and freeze the maximum weekly jobless benefit to get its unemployment insurance (UI) program back on its feet. Like a number of other states, Ohio's unemployment trust fund is running out of money. While the recession has hastened insolvency in some UI programsunemployment claims rising while tax revenue fallsit isn't the sole cause. Reserves in Ohio and several other states have failed to grow with the economy for years. Vroman answers five questions about his recommendations and applicable lessons for all states.
Read the full interview

Senior Unemployment Rate Hits 31-Year High

paffairs@urban.org ( Richard W. Johnson ) — Wed, 14 Jan 2009 00:00:00 EST

Unlike most previous recessions, the current economic slowdown has substantially increased the unemployment rate for older Americans. In December 2008, 5.1 percent of workers age 65 and older were unemployed, a higher share than at any time since March 1977. This factsheet provides the latest information on the employment situation of older Americans.

Unemployment and Income in a Recession : Recession and Recovery, No. 1

paffairs@urban.org ( Gregory Acs ) — Mon, 22 Dec 2008 00:00:00 EST

This brief, part of the Urban Institute's "Recession and Recover" series, assesses how unemployment and household income changes as the economy moves through a recession and into recovery.

Unemployment Insurance during a Recession : Recession and Recovery, No. 2

paffairs@urban.org ( Margaret Simms, Daniel Kuehn ) — Mon, 22 Dec 2008 00:00:00 EST

This brief, part of the Urban Institute's "Recession and Recover" series, examines how the Unemployment Insurance program responds during a recession and how that response may differ in the current recession from its response in the past.

The Role of Welfare during a Recession : Recession and Recovery, No. 3

paffairs@urban.org ( Sheila R. Zedlewski ) — Mon, 22 Dec 2008 00:00:00 EST

This brief, part of the Urban Institute's "Recession and Recover" series, examines how the TANF program (formerly AFDC) responds during a recession and how that response may differ in the current recession from its response in the past.

SNAP and the Recession : Recession and Recovery, No. 4

paffairs@urban.org ( Kenneth Finegold ) — Mon, 22 Dec 2008 00:00:00 EST

This brief, part of the Urban Institute's "Recession and Recover" series, examines how the SNAP program (formerly food stamps) responds during a recession and how that response may differ in the current recession from its response in the past.

The Recession and the Earned Income Tax Credit : Recession and Recovery, No. 5

paffairs@urban.org ( Roberton Williams, Elaine Maag ) — Mon, 22 Dec 2008 00:00:00 EST

This brief, part of the Urban Institute's "Recession and Recover" series, assesses the extent to which the Earned Income Tax Credit can help families hit by job losses and falling incomes during a recession.

Health Coverage in a Recession : Recession and Recovery, No. 6

paffairs@urban.org ( Stan Dorn ) — Mon, 22 Dec 2008 00:00:00 EST

This brief, part of the Urban Institute's "Recession and Recover" series, examines how the Medicaid and SCHIP programs respond during a recession and how that response may differ in the current recession from their responses in the past. It also assesses the extent to which health insurance coverage may decline as unemployment rises.

Recession and Recovery: Facts and Forecasts

paffairs@urban.org ( The Urban Institute ) — Mon, 22 Dec 2008 00:00:00 EST

Six new briefs from the nonpartisan Urban Institute show how Americans have fared during and after downturns since the 1970s, what might be ahead, and how government programs aid those in distress.

How Is the Recession Affecting Older Workers?

paffairs@urban.org ( Richard W. Johnson ) — Wed, 17 Dec 2008 00:00:00 EST

With nearly 300,000 Americans age 65 and older out of work, the recession is hitting older workers hard. Old-age unemployment rates are increasing more rapidly than in most previous downturns. This fact sheet provides the latest numbers on the employment situation for older Americans.

Older Workers and the Recession

paffairs@urban.org ( Richard W. Johnson ) — Wed, 10 Dec 2008 00:00:00 EST

For older workers, this recession is unprecedented. Retirement expert Richard Johnson explains why and what should be done to cushion its impact on seniors who want to work.

How Is the Financial Crisis Affecting Retirement Savings?

paffairs@urban.org ( Mauricio Soto ) — Wed, 10 Dec 2008 00:00:00 EST

The stock market lost 47 percent of its value between September 30, 2007 and December 2, 2008, a roughly $11 trillion drop. The loss has reduced the retirement savings of many Americans, particularly older adults. This fact sheet examines the impact of the ongoing economic turmoil on older households and presents estimates of the retirement account losses to date.