How Covid-19 is impacting employment for older workers

How Covid-19 is impacting employment for older workers

Since February, the share of employed US adults 65 years has dropped by 16%, versus an 11% decline for all Americans 16 years and older, according to data from the US Bureau of Labor Statistics. A study from the University of Chicago, which surveyed people before and after the Covid-19 pandemic began, found that among those who left the labor force, 60% claim to be retired in April versus 53% in January. Michael Weber, one of the study’s authors, says it’s “very unlikely” we’ll see a big bounce back in the employment to population ratio coming out of the recession.