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How Do Older Laid-Off Workers Get By: Reemployment, Early Retirement, or Social Insurance Benefits?

Resource type
Authors/contributors
Title
How Do Older Laid-Off Workers Get By: Reemployment, Early Retirement, or Social Insurance Benefits?
Abstract
We investigate the post-layoff configuration of income sources and pathways of prime-age and older laid- off workers exhibiting a high degree of prior attachment. Using a unique Canadian administrative database that links the event of the involuntary layoff with detailed data on income receipt, we track all of their sources of income over an interval spanning five years after layoff. We conduct a multivariate statistical analysis of the incidence of relying on income from several alternative sources, specifically early retirement (both public and private), reemployment, self-employment, or reliance on social insurance benefits (other than pensions). The two most common states for laid-off workers who have not yet reached normal retirement age are early retirement and continued labour market activity. Our findings indicate that the older workers are at the point of layoff, the greater the likelihood is that they will rely on pension income as their primary income source. This incidence of reliance on pension income also increases with the number of years elapsed since the point of layoff.
Publication
Canadian Public Policy
Volume
44
Issue
2
Pages
173-189
Date
June 2018
Language
en
ISSN
0317-0861, 1911-9917
Short Title
How Do Older Laid-Off Workers Get By
Accessed
7/21/18, 2:15 AM
Library Catalog
Crossref
Citation
Finnie, R., & Gray, D. (2018). How Do Older Laid-Off Workers Get By: Reemployment, Early Retirement, or Social Insurance Benefits? Canadian Public Policy, 44(2), 173–189. https://doi.org/10.3138/cpp.2017-034