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The Great Retirement Surge Driven by Mass Job Loss During the Pandemic #269
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This week I am speaking with Teresa Ghilarducci and Sia Radpour about how the great retirement surge was not associated with the great resignation but by mass job loss by older workers during the pandemic.
Teresa and Sia are both economists with the Schwartz Center for Economic Policy analysis and they recently published a report called No "Great Resignation" for Older Workers—Mass Job Loss Drove the Retirement Surge.
This report confirmed many of our suspicions that the great retirement surge was driven by involuntary job loss and was not by choice.
Teresa’s bio is as follows:
Teresa Ghilarducci is a labor economist and nationally recognized expert in retirement security.
She holds the Irene and Bernard L. Schwartz Chair in economic policy analysis in the Economics Department at the New School for Social Research and directs the Schwartz Center for Economic Policy Analysis that focuses on economic policy research and outreach.
Ghilarducci joined The New School in 2008 after 25 years as a professor of economics at the University of Notre Dame. Her most recent book, Rescuing Retirement: A Plan to Guarantee Retirement Security for All Americans, offers solutions to the growing retirement crisis in the U.S.
Sia’s bio is as follows:
Siavash Radpour earned his Ph.D. in economics from the New School for Social Research in 2020. His research focuses on the effects of the retirement system and aging on wealth and income inequality, wellbeing, and economic growth and redistribution. Previously, he worked as a Research Associate for the Retirement Equity Lab. He received his MA in economics and business from the University of Groningen in the Netherlands and Corvinus University of Budapest.
My discussion with Teresa and Sia clearly states some of the ugly truths on how older workers have been hurt during the pandemic. They acknowledge the elephant in the room that ageism in the job market is alive and well. This is an employer issue that only employers can fix.
This episode is sponsored by Career Pivot. Check out the Career Pivot Community, and be sure to pick up my latest book, Repurpose Your Career: A Practical Guide for the 2nd Half of Life Third Edition.For the full show notes click here.