April 7, 2000 (The Editor’s Desk is updated each business day.)
Labor force participation and Social Security
Congress passed the
Social Security earnings test repeal, known as the Senior Citizens Freedom
to Work Act, by unanimous vote on April 7, 2000. The law eliminates the
earnings test for those who have reached the Social Security normal
retirement age, currently age 65.
[Chart data—TXT]
Labor force participation trends track
closely with Social Security age requirements. For example, data from the
Current Population Survey indicate that there is a decline in the percent
of individuals participating in the labor force when they reach 62 (when
first eligible for Social Security benefits) and again at age 65 (normal
retirement age for Social Security benefits).
These data on labor force participation are
the products of the Current
Population Survey. Read more in
"Social Security Earnings Limit Removed" (PDF
18K), by Thomas P. Burke, Compensation
and Working Conditions, Summer 2000.
The earnings test discussed above reduced Social Security benefits for
recipients between the ages of 65 and 69, who had wage income above a
certain threshold.
Of interest
Spotlight on Statistics: National Hispanic Heritage Month
In this Spotlight, we take a look at the Hispanic labor force—including labor force participation, employment and unemployment, educational attainment, geographic location, country of birth, earnings, consumer expenditures, time use, workplace injuries, and employment projections.
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Read more »
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