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The coronavirus-fueled recession will force 3.1 million older workers into poverty when they retire, and all ranges of earners — even those on the high end — will be affected, according to a new report issued by an economics policy research group.
Middle-income older American workers will be "hardest hit" by COVID-19 of those from different earnings-range groups, says the report from The New School Retirement Equity Lab. This is because "middle earners" are being "hit from both sides," meaning they're suffering both substantial job losses and stock market losses all at once, according to The New School's website summary of its Retirement Equity Lab report.
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Jason Grant
Jason Grant is a staff writer covering legal stories and cases for the New York Law Journal, the National Law Journal and Law.com, and a former practicing attorney. He's written and reported previously for the New York Times, the Star-Ledger, the L.A. Times and other publications. Contact him at [email protected]. On Twitter, pls find him @JasonBarrGrant
