Summary

This paper explores whether or not publicity to tight labor markets at working ages is linked to improved monetary wellbeing at older ages particularly for teams historically deprived within the labor market, together with individuals with low revenue, these with out faculty levels, and folks of coloration.  We additionally study what function the timing of publicity to tight labor markets could play with respect to the outcomes of curiosity.

The paper discovered that:

  • Larger publicity to stronger-than-average labor markets at working ages (41-61, in addition to 31-61) is considerably correlated with a decrease probability of being poor and with increased family revenue at retirement ages (63-67).
  • The magnitude of the estimated coefficients is bigger for marginalized employees, together with those that begin out with decrease incomes, these with out faculty levels, and folks of coloration.
  • Statistically important outcomes are noticed nearly solely for publicity earlier than age 50).

The coverage implications of the findings are:

  • Tight labor markets may help shield the long-term monetary wellbeing of older individuals.
  • Those that stand to profit extra are from numerous teams historically deprived within the labor market, together with individuals with low incomes, these with out faculty levels, and folks of coloration.
  • Earlier publicity is related to extra favorable monetary outcomes at retirement ages, arguably suggesting that interventions designed to help labor power attachment and/or enhance pay and advantages early within the profession could yield general higher returns than the identical measurement interventions later in life.

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