The coronavirus double whammy for older women and workers of color
Older women and workers of color are likely to suffer the worst economic effects as the pandemic and recession drag on, experts say.
The big picture: "We know from past recessions that if you're an older woman or an older worker of color, your ability to become re-employed is even more difficult than that of an older white man," the Urban Institute's Johnson says.
- Older women earn less than older men — and they're likely to have less money saved and to live longer, says Jenkins of AARP.
- Among older people of color, around 12% of women and 10% of men have exited the workforce since March, per the New School's Schwartz Center. When looking at older white workers, that drops to 7.5% of women and 5% of men.
The bottom line: Workplace discrimination on the basis of gender or race gets magnified with age.