Economic hardship from COVID-19 will hit minority seniors the most
For Americans 60 and older, COVID-19 is widespread and deadly. Its economic impact could also be devastating.
With a recession fast developing, much of the attention on the downturn focuses on working-age adults, but many older Americans – with less time to make up for financial losses – will suffer the most.
I am a clinical professor of gerontology. My co-author is a research fellow in gerontology. We believe that recent history, specifically the Great Recession of 2008-09, will demonstrate what’s at stake.
In a series of research briefs using data from the Health and Retirement Study, we analyzed the financial status of Americans 60 and older before and after that recession. We reviewed the data from a wide variety of demographic groups: non-Hispanic whites, non-Hispanic Blacks, and H...