Effects of Late-Life Job Loss on Wealth and Labor Supply

TitleEffects of Late-Life Job Loss on Wealth and Labor Supply
Publication TypeBook Chapter
Year of Publication2013
AuthorsStevens, AHuff, Moulton, JG
EditorCouch, KA, Daly, MC, Zissimopoulos, JM
Book TitleLifecycle Events and Their Consequences: Job Loss, Family Change, and Declines in Health
Pagination57-75
PublisherStanford University Press
CityStanford, CA
KeywordsEmployment and Labor Force, Net Worth and Assets, Other, Retirement Planning and Satisfaction
Abstract

This chapter considers the impact of job loss on economic well-being during retirement. Using data from the Health and Retirement Study (HRS), it compares retirement wealth across individuals who experience a job loss and those who do not. Sizeable differences are reported, especially when the job loss occurs at young ages. Little evidence is found that displaced workers can make up these differences by shifting retirement to a later date. The inability to recover appears related to both the difficulty in becoming reemployed and, if a new job is found, working sufficiently long before retirement to offset the initial declines in assets.

Endnote Keywords

job loss/displacement/late-life/retirement/wealth

Endnote ID

999999

Short TitleEffects of Late-Life Job Loss on Wealth and Labor Supply
Citation Key5256