Changes in the Labor Force Participation and Income of the Aged in the United States, 1947-1976

Bibliographic Data

ID2484176
AuthorsF C Pampel (0000-0003-4172-9343, University of Iowa, corresponding author)
Year1979
Volume27
Issue2
Pages125-142
Publication date1979-12-01
Peer ReviewedYes
Open AccessNo
TypeARTICLE
VenueSocial Problems (JOURNAL)
Journal identifiersISSN: 0037-7791 • E-ISSN: 1533-8533
PublisherOxford University Press (OUP) (PUBLISHER)
DOI10.2307/800363
OpenAlexW2048174850
LanguageEN
Citations received3
References cited28

Problems of the aged in the United States are often argued to be increasing because societal level changes are forcing more older workers out of the labor force and reducing average income levels of all aged persons. This paper specifies a model which relates societal trends to changes in the labor force participation rates and median income levels of aged men and women. Aggregate time-series data for the U.S. from 1947–1976 are used to estimate and test the model. The results show participation of aged males and females to respond to long-term changes in the occupational structure and short-term changes in retirement benefits and economic growth. The decline in participation among the aged, however, has not reduced their income which, for at least the last ten years, has increased in absolute and relative terms. Growth of retirement income and cohort improvement are the major causes of the increases in median income

Demographic economics · Economics · Labour economics · Political science · Financial Literacy, Pension, Retirement Analysis · Gender, Labor, and Family Dynamics · Retirement, Disability, and Employment

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