Summer Institute 2021 - Social Security Panel Discussion: The Labor Market Effects of COVID-19: Implications for Social Security in the US
The COVID-19 pandemic has had profound effects on the US labor market. Some of these — most notably the drop in employment and earnings across age groups and the rise in the retirement rate among older workers — may have important effects on the financial status of the Social Security Trust Funds. During the 2021 NBER Summer Institute, five panelists explored these issues. Katharine Abraham (University of Maryland and NBER), Karen Glenn and Stephen Goss (Office of the Actuary, US Social Security Administration), Michael Stepner (University of Toronto), and Till von Wachter (UCLA and NBER), drawing on a range of data sources, outlined both the near-term and potential longer-term consequences of recent labor market developments. Their presentations may be viewed in the video above.