Widening Health Gap in the US Labor Force Participation at Older Ages

Author:

Cajner Tomaz1,Fernández-Blanco Javier2ORCID,Sánchez-Marcos Virginia3

Affiliation:

1. Board of Governors of the Federal Reserve System

2. Universitat Autònoma de Barcelona and BSE , Bellaterra, Spain. E-mail: javier.fernandez@bse.eu

3. Universidad de Cantabria and CEPR , Santander, Spain . E-mail: sanchezv@unican.es

Abstract

Abstract Using microdata from the CPS and the HRS, we document changes in labor force participation at older ages in the USA since the mid-1990s. Our main finding is that the over two-decade increase in participation is solely driven by individuals in good health, and does not differ across either educational or occupational groups. This phenomenon may importantly affect the results of social security reforms aiming at raising the mandatory retirement age and may exacerbate the health gap in lifetime earnings. (JEL codes: J22 and I14)

Funder

Spanish Government

Spanish Agencia Estatal de Investigación

Severo Ochoa Programme for Centres of Excellence in R&D

Barcelona School of Economics

Publisher

Oxford University Press (OUP)

Reference17 articles.

1. The Growth of Low-Skill Service Jobs and the Polarization of the US Labor Market;Autor;American Economic Review,2013

2. Employment Trends by Age in the United States. Why Are Older Workers Different?;Banerjee;Journal of Human Resources,2016

3. Framing Social Security Reform: Behavioral Responses to Changes in the Full Retirement Age;Behaghel;American Economic Journal: Economic Policy,2012

4. Can Social Security Explain Trends in Labor Force Participation of Older Men in the United States?;Blau;Journal of Human Resources,2010

5. The Impact of Health on Labor Supply near Retirement;Blundell;Journal of Human Resources,2023

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