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The Changing Retirement Prospects of American Families: Impact of Labor Market Shifts on Economic Outcomes

This 42-page study explores and compares longitudinally the differences in labor market outcomes and economic well-being of the age cohorts born between 1944 and 1953 and the experiences of age cohorts born between 1923 and 1937. In particular, the study is motivated by the possible impact of the timing of baby boomers' entry into the labor market (1970s) when wage growth slowed and wage inequality increased, particularly among less skilled male workers. It explores the impacts that greater labor force participation among women and fewer children have had on family incomes relative to male earnings. It also compares the degree of inequality and income mobility between generations, and explores the consequences of all these factors for the future well-being of boomer cohorts.

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