Job Loss and the Older Worker
40Plus of Greater Washington presents:
“Job Loss and the Older Worker, with labor economist Richard Johnson”
The 40-plus worker plays an increasingly important role in the labor market. Adults ages 40 and older now account for 54 percent of the nation’s workforce, up from 39 percent 30 years ago, while adults age 50 and older account for 33 percent of all workers.
Despite their growing importance, 40-plus workers face special challenges when they lose their jobs. Experienced workers are less likely to become unemployed than younger workers, but job loss is common at older ages and the consequences are significant.
Recent research finds that about one-half of full-time workers are laid off from a job after age 50 or are pushed out by their employer, and the vast majority never approach their former earnings level again.
This session will discuss recent research findings about employment prospects for 40-plus workers. Objectives for this session include:
- Exploring the labor market challenges confronting 40-plus workers and how they are changing
- Understanding why employers are reluctant to hire 40-plus workers
- Identifying those sectors of the economy that are most likely to employ 40-plus workers
About the Speaker:
Richard W. Johnson is a labor economist and senior fellow in the Income and Benefits Policy Center at the Urban Institute, where he directs the program on retirement policy. He writes and speaks frequently about income and health security at older ages. He is an expert on older Americans’ employment and retirement decisions and has authored or co-authored more than 200 journal articles, book chapters, and research reports and testified before Congress and federal commissions. Recent studies have examined job loss at older ages, occupational change after age 50, work incentives created by state and local government pension plans, and employment prospects for older African Americans, Hispanics, and people with limited education. He has also written extensively about government pensions, retirement preparedness, and long-term services and supports. He received an A.B. from Princeton University and a Ph.D. from the University of Pennsylvania, both in economics.
Contact the Speaker: