#2 - Earnings Test and LFP
What We’ve Found:
- The population over 65 years of age has continued to increase throughout the last 57 years.
- The labor force participation rate for people 65yrs+ has continued to drop throughout the last 57 years.
- The Earnings Test has a negative influence on labor force participation.
- Social Security trustee fund is strongly correlated with the labor force participation of aged people rather than 65+ years old population
- Earning test has impact on LFP of elderly people
- Education has positive impact to keep older workers in labor force
- Redefining the retirement age will significantly change LFP of the elderly in the future