Posts Tagged "job market"
January 19, 2021
Is Job Automation Connected to Disability?
Manufacturing workers file more applications to the federal disability program than any other workers. What seems new is that jobs like administrative assistant and retail worker aren’t that far behind.
Is one possible explanation that the computerization of once-routine occupations like these plays a role in decisions to apply for disability benefits?
Consider the example of a retail worker with a bad back who is laid off, or perhaps she quits because she struggled to handle the cognitive challenges of increased automation. Even simple tasks such as processing customer transactions or locating a product at another store now require computer skills. And the worker’s skills may not match up with the technical qualifications needed to find a new job in a labor market where routine jobs are rapidly disappearing.
Given her disability, the worker might decide that her best – or only – option to ensure she has some income is to apply for disability benefits.
A study by Mathematica researcher April Yanyuan Wu did not find direct evidence that this skills mismatch triggers applications. But her findings suggest it might be a factor.
Wu provided new statistics on the types of jobs once held by disability applicants and on the changes over time in the job attributes, compared with the changes in job attributes facing the general working population.
Between 2007 and 2014, for example, the share of the applicants’ former jobs that required computer skills rose by 18 percentage points, outpacing the increase for the labor force overall. At the same time, jobs requiring moderate cognitive ability also increased more for people with disabilities than it did for all workers.
Stress is a telling indication of the challenges of increased job automation. The growth in high-stress jobs once held by people with disabilities was much larger than for workers overall, according to the study, which was funded by the U.S. Social Security Administration. …Learn More
August 6, 2019
People in their Prime are Working Less
The main reason for the drop is our aging population. But the news in a systematic review of current research in this area is a more troubling trend that’s also driving it: people in their prime working years – ages 25 through 54 – are falling out of the labor force.
Prime-age men are the most active members of the labor force. Yet in 2017, only 89.1 percent of them were either working or seeking a job, down from 91.5 percent in 2000, according to the review by University of Southern California economists.
Prime-age women’s labor force activity also fell, to 75.2 percent in 2017 from about 77 percent in 2000. This decline ends decades in which women were streaming into the nation’s workplaces at an increasing rate. One possible reason for the leveling off is the scarcity of family-friendly policies, including more generous childcare assistance.
The forces pushing and pulling various groups in and out of the labor force make it difficult to pin down the primary reasons for the overall drop in participation. The decline among prime-age men and women may be tied to opioid addiction, alcoholism, and suicide. Other studies point to the surge in incarcerations of black men.
And while technological advances like robots and growing trade with China have increased the need for many highly skilled workers, they have reduced the demand for less-educated, lower-paid people, including U.S. factory workers, in their peak working years. The resulting fall in their wages has also made work less attractive to them. …Learn More
March 19, 2019
Boomers Cope with Real Financial Pain
We really appreciate readers opening up about their personal experiences in the comments section at the end of each blog. It’s important to stop occasionally and listen to what they have to say.
Aging readers reacted strongly to blog posts in recent weeks about two of the biggest challenges they face: spiraling prescription drug costs and a so-so job market for older workers who aren’t ready to retire.
Here are summaries of their comments on each article:
High Drug Prices Erode Part D Coverage
Readers expressed anger about rising prescription drug prices in response to a blog featuring a diabetic in Arizona who, despite having a Medicare Part D plan, spends thousands of dollars a year for her insulin. She resorts occasionally to buying surplus supplies on eBay from private individuals.
Dr. Edward Hoffer in Boston responded that Americans pay five times more for Lantus than diabetics in the rest of the world. “The same is true for most brand name drugs and most medical devices. It is an embarrassment that we pay double per capita what comparable western countries pay for health care with worse national health statistics,” he said.
Bill MacDonald shared his story in a Tweet and follow-up messages. This North Carolina retiree on a fixed income has paid $6,000 annually out-of-pocket – a third of his income – for two drugs he’s taken since an automobile accident caused medical problems and depression that led to other issues. He spends $3,200 for one of the drugs, a cholesterol medication called Repatha – that’s his tab after his insurance company pays for most of it. (Last year, Amgen slashed Repatha’s price from more than $10,000 per year to $5,850, which MacDonald hopes will reduce this expense.)
Steve B. was thrilled about a new generic on the market to replace his Rapaflo, a prostate medication. Then he learned that the generic is not much of a bargain either.