Could Covid-19 Pandemic Upend Senior’s Retirement Plans?
A new study by economic professors Olivier Coibon of the University of Texas at Austin, Yuriy Gorodnichenko of the University of California at Berkeley, and finance professor Michael Weber of the University of Chicago’s Booth School of Business shows a troubling trend that they gleaned from a series of surveys conducted over January and April of this year. Alarmingly, the data shows a job loss rate perhaps much higher than thought, and the employment to population ratio has dropped a staggering 7%. What does this mean for senior retirement?