SOC 3714 Study Guide - Final Guide: Ageism, World Health Organization, Collegehumor
19 May 2018
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WORK AND AGING
MEN’S LABOR FORCE PARTICIPATION
● 55 to 59: 1990 = 79.9%, 2000 = 77.1%, 2014 = 76.8%
● 60 to 64: 1990 = 55.5%, 2000 = 55%, 2014 = 61.9%
● 65 to 69: 1990 = 26%, 2000 = 30.3%, 2014 = 36.1%
● 70 to 74: 1990 = 15.4%, 2000 = 18%, 2014 = 22.8%
WOMEN’S LABOR FORCE PARTICIPATION
● 55 to 59: 1990 = 55.3% 2000=61.4% 2014 = 66.4%
● 60 to 64: 1990 = 35.5% 2000=40.2% 2014 = 50.2%
● 65 to 69: 1990=17% 2000=19.5% 2014=27.5%
● 70 to 74: 1990 = 8.2% 2000=10% 2014=15.6%
LABOR FORCE PARTICIPATION:FROM MIDDLE AGE TO OLDER AGE
● Labor force participation is higher for men than women for midlife and older adults.
● •For age 50 to 54, men’s labor force participation has decreased from 1990 to 2014.
● •For ages 55 to 74, men’s labor force participation has decreased from 1990 to 2014.
● •For all age groups, women’s labor force participation has increased from 1990 to 2014.
MEN’S LABOR FORCE PARTICIPATION BY RACE-ETHNICITY
● 50 to 54: White= 86.5% Black =75.1% Asian= 88.7% Hispanic = 86.7%
● 55 to 59: White= 79.7% Black =65.2% Asian=87.4% Hispanic = 77.1%
● 60 to 64: White= 61.3% Black =46.7% Asian= 66.8% Hispanic = 57.8%
● 65 + : White= 22.1% Black =18.1% Asian= 24.2% Hispanic = 24.5%
WOMEN’S LABOR FORCE PARTICIPATION BY RACE-ETHNICITY
● 50 to 54: White=75.3% Black= 70.6% Asian= 75.9% Hispanic = 67.7%
● 55 to 59: White= 69.4% Black =63.6% Asian=65% Hispanic = 60.5%
● 60 to 64: White= 51.7% Black =44.2% Asian= 49.3% Hispanic = 44.5%
● 65 + : White= 13.9% Black =13.3% Asian= 11.7% Hispanic = 13%
RACIAL-ETHNIC DIFFERENCES IN LABOR FORCE PARTICIPATION
● Between ages 50 to 65 and older, African American men worked more hours for all age groups compared to
White, Hispanic, and Asian men.
● •Between ages 50 and 64, Asian men worked more hours than White, Hispanics, and African American men;
Hispanic men worked slightly more hours than Asian men at ages 65 and older.
● •Between ages 50 to 59, Hispanic women worked fewer hours than White, Hispanic, and African American
women.
● •For ages 60 and 64, Hispanic and African women have similar rates of labor force participation, whereas
rates of labor force participation for Asian and White women.
● •There are similar rates of labor force participation among those 65 and older except that Asian women work
fewer hours.
BRIDGE JOBS
● Jobs that allow older workers to ease from full-time worker into permanent retirement
● •Between one-half to two-thirds of older men and women take bridge jobs
● •The trends toward bridge jobs has increase since the early 1990s
● •They often work in a different occupation or industry from their career jobs
● •Also more likely to work part-time or be self-employed
● •Part-time employment is highest among workers under age 24 and over age 65
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PHASED RETIREMENT
● •Allows workers to reduce their responsibilities and ease gradually into full retirement
● •Some companies allow workers to:
○ •Work fewer hours per day
○ •Work fewer days a week
○ •Share one job with another worker
● •Allows older workers to make a contribution at a more relaxed pace and allows employers to keep an
experienced worker
CONTINGENT WORK
● Workers hired on a temporary basis to do a specific task
● •Can provide flexible work for older personand/or an ideal bridge job to ease into retirement
● •Allows employers to employ experienced workers without making a permanent commitment and/or providing
health or retirement benefits
● •Among older people tends to be at the bottom of the labor market, such as childcare workers, supermarket
workers, etc.
AGE DISCRIMINATION
● •Age Discrimination in Employment Act of 1967 (ADEA):
○ •Banned discrimination against workers aged 40 to 65
○ •Forbade employers from firing, demoting, or reducing the salaries of older workers without good
cause
● •Each year, over 20,000 claims of age discrimination are filed
● •Problem is trying to prove discrimination has occurred
DIFFICULTIES OF PREVENTING AGE DISCRIMINATION
● •Courts have raised the burden of proof for unlawful termination
● •Courts allow employers to dismiss an employee simply for drawing too high a salary or accumulating too
many pension credits
● •Cost of suing discourages many employees from filing claims
● •Age discrimination occurs more often when hiring yet proving that someone was denied a job due to age
discrimination is difficult
RETIREMENT
RETIREMENT AGE FOR MEN AND WOMEN
● •Although there has been some fluctuation in retirement age for men, these numbers have tended to
fluctuate between age 62 to age 66.
● •For women, retirement age has increased from about age 52.5 to age 62.5 from 1962 to 2015.
RETIREMENT AGES ACCORDING TO GOVERNMENT REGULATIONS BY COUNTRY
● Government definitions of expected age of retirement (in the US, this is indicated by full benefits for Social
Security) is high in the United States by comparison to these other primarily industrialized countries
● •However, as is seen on the previous slide, both men and women on average tend to retire prior to full
retirement age.
● •Some potential ways that they can retire early include: partial Social Security benefits at age 62, Disability
Insurance, savings plans, ability to draw pensions early, etc.
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ECONOMIC FACTORS AND RETIREMENT
● Between 1960s and 1990s, both men and women were most likely to retire at age 62, when first could claim
Social Security benefits.
● Since then, people have worked longer and waited to claim benefits, possibly due to increase in age for full
Social Security benefits.
● Women are more likely to retire based on families’ needs and their husbands’ pension incomes.
● Many people who retire before they reach age 62 do so because they cannot continue working; thus, they
can collect Disability Insurance.
DEFINED BENEFIT VERSUS DEFINED CONTRIBUTION PLANS
● The change from defined benefit plans to defined contribution plans has affected retirement age.
● From 1981 and 2010:
● Defined benefit plans declined from 58% to 11%
● Defined contribution plans increased from 20% to 59%
● Defined contribution plans reduce the incentive to retire so people tend to retire later
RETIREE HEALTH BENEFITS
● Retirees have also been encouraged to work longer because there are fewer retiree health benefits
● In the past, employers often paid the health insurance premiums of retired employees.
● Nowadays, few employers are willing to pay health insurance premiums for retired employees.
● This has encouraged workers to continue working until age 65 when they are eligible for Medicare.
JOINT AND SEQUENTIAL RETIREMENT
● Joint retirement: dual-worker couples retire at the same time
● Sequential retirement: one spouse retires before the other
● Retired husbands do not enjoy their retirement as much if their wives are working
● 62% said they are looking forward to retirement only if their wives retire with them
● The most common pattern is for husbands and wives to retire at the same time
● Due to age differences among heterosexual couples, retiring jointly tends to mean that women retire at
younger ages than men.
SATISFACTION WITH RETIREMENT
● Benefits of retirement are more freedom and independence
● However may miss structure and clear goals
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Document Summary
Labor force participation:from middle age to older age. 65 + : white= 22. 1% black =18. 1% asian= 24. 2% hispanic = 24. 5% 65 + : white= 13. 9% black =13. 3% asian= 11. 7% hispanic = 13% Between ages 50 to 65 and older, african american men worked more hours for all age groups compared to. White, hispanic, and asian men: between ages 50 and 64, asian men worked more hours than white, hispanics, and african american men; Phased retirement: allows workers to reduce their responsibilities and ease gradually into full retirement, some companies allow workers to, allows older workers to make a contribution at a more relaxed pace and allows employers to keep an experienced worker. Retirement ages according to government regulations by country. Government definitions of expected age of retirement (in the us, this is indicated by full benefits for social. Insurance, savings plans, ability to draw pensions early, etc.
