On this week’s podcast, we consider the impact on older workers of the extraordinary coronavirus-induced shutdown of the U.S. economy. Of course, workers of all ages are impacted by the stunning loss of jobs, but some special problems apply to people over age 50.
My guest this week is labor economist Teresa Ghilarducci. Teresa is a professor at the New School for Social Research in New York, where she directs the school’s Schwartz Center for Economic Policy Analysis, and its Retirement Equity Lab (ReLab).
She also blogs for Forbes.com, where she recently posted a piece with this provocative headline –Useless Retirement Advice And Bad Government Policy In The Time Of COVID-19.
I talked with Teresa about what the numbers on older workers in this pandemic economy are looking like so far. We also discussed the impact of the economic and market crashes on retirement savings, home equity and health care spending – and the special risks older workers who are still on the job are facing during the pandemic.