Impact of the Global Financial Crisis on employed Australian baby boomers: A national survey
Date
2010
Authors
O'Loughlin, Kate
Humpel, Nancy
Kendig, Hal
Journal Title
Journal ISSN
Volume Title
Publisher
Blackwell Publishing Ltd
Abstract
Aim: This paper examines the impact of the global financial crisis (GFC) on employed Australian baby boomers. Methods: A nationally representative sample of 1009 boomers aged 50-64 years completed a survey by telephone interview mid 2009. Results: Compared with 1 year ago, 38.9% of working boomers reported being financially worse off and this was more so for women (42.4%) than men (35.6%). Following the GFC, 41.4% of women and 31.9% of men had decided to postpone their retirement plans. Conclusion: The GFC is affecting the retirement preparations and plans of Australia's baby boomers. Policy implications include reduced resources for retirement needs, and uneven and differential impacts for those with interrupted employment histories, notably women.
Description
Keywords
Keywords: article; Australia; comparative study; employment; female; forecasting; human; information processing; male; middle aged; population growth; retirement; Australia; Data Collection; Employment; Female; Forecasting; Humans; Male; Middle Aged; Population Gro Australia; Baby boomer; Global financial crisis; Plan; Retirement
Citation
Collections
Source
Australasian Journal on Ageing
Type
Journal article
Book Title
Entity type
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Restricted until
2037-12-31