ERIC Number: ED210473
Record Type: RIE
Publication Date: 1981-Jul
Reference Count: 0
The Impact of Preretirement Labor Market Experiences on Postretirement Well-Being.
Maxwell, Nan L.
A study was conducted to determine labor market factors influencing one's psychological well being and economic security after retirement. Research was found that supported the hypotheses that a worker's employment, earnings, and industry in the labor force greatly affect a retiree's financial position; the reason for labor force withdrawal influences economic position and outlook toward life; a positive relationship exists between income and life satisfaction; and health problems and job satisfaction influence life satisfaction after retirement. Data were drawn from the older men's cohort of the National Longitudinal Surveys of Work Experience. A logarithmic function of the income received from pension and Social Security was used to measure income. Life satisfaction was measured by response to a question regarding how happy the respondent was with his life. It was found that workers with successful labor market experiences were likely to have a better financial situation in retirement that was transmitted into greater life satisfaction. Whites appeared psychologically affected by job loss, while blacks' ties to the labor market were purely financial. Life satisfaction was not related to the comparison of retirement to preretirement income but was related to the absolute level of income after retirement. (Three tables are appended.) (YLB)
Publication Type: Reports - Research
Education Level: N/A
Sponsor: Employment and Training Administration (DOL), Washington, DC.
Authoring Institution: Ohio State Univ., Columbus. Center for Human Resource Research.