Labor Force and Pension Factors Affecting the Income of Minority Older Persons: An Overview of Current Knowledge

摘要

This paper surveys existing data on the labor force characteristics and experience of Blacks and Hispanics with the aim of identifying factors that lead to lower wages and hence lower retirement income among these minorities. The major data sets that have included information on labor force characteristics for various race and / or ethnic categories are listed. Findings from these surveys are discussed, including available evidence regarding the labor force participation, industry, occupation and occupational mobility, educational status, health status, and attitudes toward work of minority workers. Private pension coverage and benefit receipt within the minority workforce are examined and compared to the nonminority experience. The sources of income and the well - being of today's minority elderly during retirement are discussed. Minorities are found to be distributed differently than whites among various industries and occupations, and less likely to experience occupational upward mobility. Earnings are found to be significantly lower than those of whites. Minorities are also noted as having consistently lower educational attainment and health status. These factors are associated with private pension coverage, which is significantly lower than that of whites, although there is progress in this area. It is suggested that minorities have a much lower rate of benefit receipt, due in part to their more disrupted work histories and the resulting low levels of tenure.