Is Continued Work Linked to State Economics or Individual Characteristics?
The Center for Retirement Research at Boston College has released a research report investigating some stark differences in labor force participation rates of men aged 55-64 in different states–for example, West Virginia has a participation rate below 60%, while South Dakota has a participation rate of nearly 90%. The study (“Do State Economics or Individual Characteristics Determine Whether Older Men Work? “), authored by Alicia H. Munnell, Mauricio Soto, Robert K. Triest, and Natalia A. Zhivan, concludes that while differences in the nature of state economies, or the characteristics of their employers, affect the labor force participation rates of older workers, individuals characteristics are far more important in terms of extending working careers. Factors that vary among states that affect participation rates include a pseudo replacement rate, the unemployment rate, the percent of men self-employed, percent of men in manufacturing, percent of men aged 55-64 with a college degree,
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