Urban Institute Panel Discusses Benefits of Working Longer

The Urban Institute conducted a panel discussion focused the "demographic tsunami" that the United States faces as the first wave of baby boomers reaches the age of Social Security entitlement. "The decline in the ratio of working adults to retirees and rising health care costs will strain the federal budget and reduce per-capita economic growth. Increased employment of older Americans could help sustain economic growth and fiscal solvency."

Panelists addressed whether, in light of the recent reversal of the century-long trend toward lower labor force participation rates at older ages and while improved health, jobs' reduced physical demands, relatively lower Social Security benefits, and a continued decline in traditional pension benefits will encourage more people to work longer, will the right jobs for older workers be there? A complete audio recording of the opening remarks of Robert Reischauer, Urban Institute, presentations by Katherine Reynolds Lewis, Newhouse News Service, Eric Toder, Urban Institute, Barbara D. Bovbjerg, U.S. Government Accountability Office, Sharon Masling, Workplace Flexibility 2010, and Cynthia Metzler, Experience Works Inc., as well as a question and answer session is available.

In conjunction with this, the Urban Institute also published:

• "Should People Work Longer, and Will They?" a fact sheet examining the benefits of working longer, the characteristics of today's older workers, and recent changes in older Americans' labor supply. (December 7, 2007)
• "Are Employers Willing to Hire and Retain Older Workers?" a fact sheet examining employers' current attitudes toward older workers and the likely future demand for their services. (December 7, 2007)

Source: Urban Institute "Who Will Hire Me When I'm 64? Challenges in Increasing the Employment of Older Workers (December 4, 2007)