How Secure Is Employment at Older Ages?

Tracking older adults in the Health and Retirement Study from 1992 to 2016, we find that about one-half of full-time, full-year workers ages 51 to 54 experience an employer-related involuntary job separation after age 50 that substantially reduces earnings for years or leads to long-term unemployment. The steady earnings that many people count on in their 50s and 60s to build their retirement savings and ensure some financial security in later life often vanishes, upending
retirement expectations and creating economic hardship. This problem will likely intensify as more people realize they must work longer to enjoy a comfortable retirement.