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Workforce Development in the United States: Lessons Learned for Older Workers

May 22, 2015 Comments off

Workforce Development in the United States: Lessons Learned for Older Workers
Source: AARP Public Policy Institute

This report by workforce experts Stephen A. Wandner, David E. Balducchi, and Christopher J. O’Leary undertakes a selective review of public workforce development programs in the United States over the last eighty years with a special emphasis on their importance to older Americans.

Particular attention is paid to services benefitting dislocated workers—that is, experienced adults permanently separated from their prior employers. The Employment Service and the Workforce Investment Act Dislocated Worker programs serve the greatest number of older workers.

The Senior Community Service Employment Program and the very small Alternative Trade Adjustment Assistance program (now called Reemployment Trade Adjustment Assistance) are the only programs targeted specifically to older workers.

The policy options presented in the paper go beyond changes to the public workforce system embodied in the Workforce Innovation and Opportunity Act of 2014.

American Driving Survey: Methodology and Year One Results, May 2013 – May 2014

May 22, 2015 Comments off

American Driving Survey: Methodology and Year One Results, May 2013 – May 2014
Source: AAA Foundation for Traffic Safety/Urban Institute

On behalf of the AAA Foundation for Traffic Safety, the Urban Institute conducts a continuous survey to measure the driving behavior of the American public. The American Driving Survey is a national survey of persons 16 and over who drive of light vehicles (autos, SUVs, trucks) and reside in households with landline telephone service and/or cellular telephones. The survey commenced in May 2013 and is ongoing. The results of the first year’s data collection are presented in this report.

A Look at the End-of-Life Financial Situation in America

May 21, 2015 Comments off

A Look at the End-of-Life Financial Situation in America
Source: Employee Benefit Research Institute

  • This report takes a comprehensive look at the financial situation of older Americans at the end of their lives. In particular, it documents the percentage of households with a member who recently died with few or no assets. It also documents the income, debt, home-ownership rates, net home equity, and dependency on Social Security for households that experienced a recent death.
  • Significant findings include that among all those who died at ages 85 or above, 20.6 percent had no non-housing assets and 12.2 percent had no assets left. Among singles who died at or above age 85, 24.6 percent had no non-housing assets left and 16.7 percent had no assets left.
  • Data show those who died at earlier ages were generally worse off financially: 29.8 percent of households that lost a member between ages 50 and 64 had no assets left. Households with at least one member who died earlier also had significantly lower income than households with all surviving members.
  • The report shows that among singles who died at ages 85 or above, 9.1 percent had outstanding debt (other than mortgage debt) and the average debt amount for them was $6,368.
  • The report also shows that the importance of Social Security to older households cannot be overstated. For recently deceased singles, it provided at least two-thirds of their household income. Couple households above 75 with deceased members received more than 60 percent of their household income from Social Security.

Trends in Social Security Claiming

May 21, 2015 Comments off

Trends in Social Security Claiming
Source: Center for Retirement Research at Boston College

The brief’s key findings are:

  • Over the past 25 years, the average retirement age for U.S. workers has been rising, a trend that should align with when people first claim Social Security.
  • But the percentage of all initial claimants who are age 62 shows little change until recently.
  • A better metric to capture claiming behavior over time – when the population is aging – is the percentage of workers turning age 62 who claim at 62.
  • This measure, based on unpublished Social Security data, shows a steep decline in claiming at 62 since the mid-1990s: from 56 percent to 36 percent for men.
  • In short, while more than a third of workers still claim right away, a growing number are waiting until their mid-60s or later.

Retirement Throughout the Ages: Expectations and Preparations of American Workers

May 21, 2015 Comments off

Retirement Throughout the Ages: Expectations and Preparations of American Workers
Source: Transamerica Center for Retirement Studies

The 16th Annual Transamerica Retirement Survey finds American workers are continuing to recover from the Great Recession and its aftereffects. While the economy is recovering, the U.S. retirement landscape is also continuing to evolve, with increases in life expectancies, the need for Social Security reform, and an even greater need for individuals and families to plan and save for their future financial security. Most workers are rising to the challenge by savings, but are they saving enough? Are they properly planning?

Workers of all ages face opportunities and challenges for improving their retirement outlook. As we progress through our working lives, our circumstances change over time with age. While workers in their twenties are embarking on their careers with decades to plan and save, retirement for workers in their fifties and sixties is much closer on the horizon, with many needing to shore up the size of their nest eggs.

This study examines workers in their twenties, thirties, forties, fifties, and sixties and older to compare and contrast their retirement preparations and shed light on how they can navigate the future and improve their retirement outlook.

Family Support in Graying Societies

May 21, 2015 Comments off

Family Support in Graying Societies
Source: Pew Research Center

The United States is turning gray, with the number of people ages 65 and older expected to nearly double by 2050. This major demographic transition has implications for the economy, government programs such as Social Security and families across the U.S. Among adults with at least one parent 65 or older, nearly three-in-ten already say that in the preceding 12 months they have helped their parents financially. Twice that share report assisting a parent with personal care or day-to-day tasks. Based on demographic change alone, the burden on families seems likely to grow in the coming decades.

Germany and Italy, two of the “oldest” nations in the world, after only Japan, are already where the U.S. will be in 2050: a fifth of the population in each country is age 65 or older. Compared with the U.S. today, a higher share of adults in Germany and Italy report helping their aging parents with basic tasks, and more in Italy have also provided personal care. However, in both countries, fewer adults than in the U.S. say they have provided financial assistance to their aging parents.

Unemployment and Depression Among Emerging Adults in 12 States, Behavioral Risk Factor Surveillance System, 2010

May 19, 2015 Comments off

Unemployment and Depression Among Emerging Adults in 12 States, Behavioral Risk Factor Surveillance System, 2010
Source: Preventing Chronic Disease (CDC)

Introduction
The high rate of unemployment among emerging adults (aged 18 to 25 years) is a public health concern. The risk of depression is higher among the unemployed than among the employed, but little is known about the relationship between unemployment and mental health among emerging adults. This secondary data analysis assessed the relationship between unemployment and depression among emerging adults.

Methods
Data from the 2010 Behavioral Risk Factor Surveillance System (BRFSS) were analyzed. Responses to the Patient Health Questionnaire-8 provided data about the prevalence of depression. Bivariate relationships were assessed using χ2 tests, and multivariable adjusted odds ratios were calculated with logistic regressions. Sociodemographic variables were sex, race/ethnicity, marital status, and education. In addition, logistic regression models adjusted for health insurance status, disability, smoking, and body mass index. The analyses were completed using SAS 9.3 survey procedures to account for the complex sampling design.

Results
Almost 12% of emerging adults were depressed (PHQ-8 ≥10) and about 23% were unemployed. Significantly more unemployed than employed emerging adults were classified with depression. In the final model, the odds of depression were about 3 times higher for unemployed than employed emerging adults.

Conclusion
The relationship between unemployment and depression is significant among emerging adults. With high rates of unemployment for this age group, this population may benefit from employment- and mental-health–focused interventions.

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