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Senior Employment – Another COVID-19 Casualty
This opening salvo from a PLANSPONSOR post by Lee Barney spotlights another significant impact of the COVID-19 pandemic: “Unemployment rates for workers 55 and older have exceeded those of mid-career workers since the coronavirus pandemic hit, according to a report from The New School’s Retirement Equity Lab.” And while any measures undertaken by Congress to provide unemployment compensation to those affected, the point remains that there will be an impact on the future Social Security benefits available to older workers forced off of payrolls and unable to add to their FICA-based tax history.
Barney’s article provides a clear analysis of the employment picture with respect to seniors. Check it out here…