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Despite 3.7% Unemployment, Labor Market Inequities Mean Retirement Insecurity For Many
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Despite 3.7% Unemployment, Labor Market Inequities Mean Retirement Insecurity For Many

Author Christian E. Weller writes that despite positive job growth and a low unemployment rate, persistent inequities according to race, ethnicity, education, and gender are translating into widespread wealth inequality and retirement insecurity.

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The Bureau of Labor Statistics released its latest labor market data on October 5. The overall numbers look good. The labor market added 134,000 new jobs in September 2018, continuing a record streak of job creation, and the unemployment rate fell to 3.7%.

Yet, the data also show persistent trouble spots that can make it harder for some people to save for retirement than for others. Importantly, since labor market weaknesses are unevenly distributed by race, ethnicity, education and gender, they underscore the challenges in addressing the retirement crisis.

The above excerpt was originally published in Forbes. Click here to view the full article.

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Authors

Christian E. Weller

Senior Fellow