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Title: The Changing Retirement Prospects of American Families: Impact of Labor Market Shifts on Economic Outcomes
Resulting in 1 citation.
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Crystal, Stephen Johnson, Richard W. |
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The Changing Retirement Prospects of American Families: Impact of Labor Market Shifts on Economic Outcomes Presented: Washington, DC, Population Association of America Meetings, March 1997 Cohort(s): Mature Women, Young Women Publisher: Population Association of America Keyword(s): Family Income; Family Size; Gender Differences; Inflation; Intergenerational Patterns/Transmission; Labor Economics; Labor Force Participation; Labor Market Outcomes; Retirement/Retirement Planning; Wages Permission to reprint the abstract has not been received from the publisher. Changes in the labor market over the past 25 years, including overall wage stagnation and increases in inequality, may affect retirement prospects for the baby boom cohorts. Using data from National Longitudinal Surveys of Mature Women and Young Women, we compare income trajectories for families from the baby boom birth cohorts with families from earlier cohorts. Our findings suggest that the overall retirement prospects of Baby Boomers are no worse than the prospects faced by cohorts born 20 years earlier. Adjusting for inflation and differences in family size, mean family income at midlife was higher for women born after World War II than for women born in the 1920s and 1930s, primarily because of increasing labor force participation by married women and declining family sizes. However, retirement outcomes for particular subgroups, namely single men and those with limited education, are unlikely to match outcomes experienced by their parents' generation. |
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Bibliography Citation
Crystal, Stephen and Richard W. Johnson. "The Changing Retirement Prospects of American Families: Impact of Labor Market Shifts on Economic Outcomes." Presented: Washington, DC, Population Association of America Meetings, March 1997. |