Economic status of the elderly population by Brian Cashell

Cover of: Economic status of the elderly population | Brian Cashell

Published by Library of Congress, Congressional Research Service in Washington, D.C .

Written in English

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Subjects:

  • Older people -- United States -- Economic conditions,
  • Older people -- United States -- Economic conditions -- Statistics

Edition Notes

Book details

Statementby Brian W. Cashell
GenreStatistics
SeriesCRS report for Congress -- no. 87-101E, Report (Library of Congress. Congressional Research Service) -- no. 87-101 E, Major studies and issue briefs of the Congressional Research Service -- 1987-88, reel 14, fr. 00983
ContributionsLibrary of Congress. Congressional Research Service
The Physical Object
FormatMicroform
Pagination11 p.
Number of Pages11
ID Numbers
Open LibraryOL15456656M

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67 The Economic Status of the Elderly in the United States Table Mean Household Income of the Elderly and of the General Population ( dollars) Year Mean 65+ Mean All Ratio 13, 25, 16, 26, 15, 25, The Economic Status of the Elderly poverty level.

The incidence of poverty is much higher for unrelated elderly individuals, primarily women, but here, too, significant progress is shown. Table augments the income data of the previous two tables by providing a time series of income composition of the elderly.

The economic status of the elderly improved greatly since the s. This is true in terms of poverty rates, real cash income and broader income measures that include in-kind benefits. Yet, many. Economic Status of the Elderly in the United States. by: Virginia P. Reno and Benjamin Veghte.

September Abstract: American elders saw sharp gains in their incomes and declines in poverty during the s and 70s and have had smaller gains since.

Updated poverty measures show that seniors are as likely as children to be poor. STUDY OBJECTIVE To identify which of seven indicators of socioeconomic status used singly or combined with one other would be most useful in studies of health inequalities in the older population.

DESIGN Secondary analysis of socioeconomic and health data in a two wave survey. SETTING Great Britain. Participants were interviewed at home by a trained interviewer. Cited by: •In61% of persons age 65 years and older received at least half of their income from Social Security (Social Security Administration, ).

•Byit is projected that 25% of older persons will be from ethnic minority groups. Up to % of older African Americans and % of older Hispanics. The 1 st of October is the United Nation’s official International Day for Older Persons.

According to the UN’s medium population projections, the number of people aged over 65 could rise from just over million today to close to billion by Indeed in the next 20 years, the older population is expected to almost double in size.

share of elderly in the population will create economic and fiscal stresses beginning in the second decade of the 21st century. These demographic developments, if not offset by changes in household behavior and government fiscal policy, will reduce the number of workers in rela-tion to the population needing support and lower the national.

With a large population, second only to China, India has to give serious attention to the issues relating to the aged population. The size of the elderly population in India increased from Get this from a library.

The Economic Status of the Elderly. [John B Shoven; Michael D Hurd; National Bureau of Economic Research.;] -- In the first part of the paper using official data sources, we estimate the real income of the elderly and of the rest of the population during the s. We find that income per household of the.

The elderly dependency rate is defined as the ratio between the elderly population and the working age ( years) population. The comparability of elderly population data is affected by differences, both within and across countries, in how regions and the geography of rural.

The elderly (persons aged 65 or older) are financially better off than ever before. Overall, poverty rates for the elderly have fallen sincemedian real income has risen, and median income relative to that of the working-age population has been relatively stable.

On one hand, older populations demand more fiscal resources for social services, such as health, long-term care, and pensions. On the other, population aging produces shifts in the proportion of the population that is working age, which may affect long-term economic growth.

The economic prospects of the elderly during the next few decades are good because of the large work force from the baby-boom cohort. In the distant future a large fraction of the population will be elderly, which will probably lead to a deterioration in their economic status.

Downloadable. In the first part of the paper using official data sources, we estimate the real income of the elderly and of the rest of the population during the s. We find that income per household of the elderly has increased more rapidly than income per household of the rest of the population, even though the elderly's fraction of income from work decreased greatly.

Real median income of the elderly as a share of income of the working-age population 0 20 40 60 80 Year SOURCE: Social Security Administration's analysis of March Current Population Survey, various years. Thousands of dollars Chart 3. Section III Tables on Socio-economic profile of the elderly population Table Old age dependency ratio by sex and residence, India, 33 Table Old age dependency ratio by sex and residence in major states 33 Table Percent distribution of elderly population by state of economic independence Myth No.

6: Older people are an economic burden on society. Older people contribute in innumerable ways to the economic development of their societies.

However, two concurrent developments have contributed to the myth that societies will not be able to afford to provide economic support and health care for older people in the years to come. Second, the future strains of population ageing in the US derive not so much from the growth in the elderly population or the 85 and over population, per se, but rather from the slow projected growth in the non-elderly, working age population.

Between andthe population age 16–64 is projected to grow by only 33%. People over ninety years of age now account for percent of the older population, defined as age sixty-five or above; this percentage is expected to reach 10 percent by the year (U.S. Census Bureau ). As ofthe U.S. Census Bureau reports that percent of the total U.S.

population is sixty-five years old or older. In% of the population aged 65 or over in the EU were living alone, compared with % of the total population. Among the elderly, the share of the population living alone ranged from % in Lithuania and % in both Denmark and Estonia to % in Cyprus and % in Greece.

In addressing the question of “How much economic activity is generated by the plus population?” the report confirms the following: The aging population in the U.S.

is. of the elderly affecting their health, social relationships, living arrangements, community activities, and even political participation4. Their daily opportunities and competence is influenced by their employment, retirement and income. Employment patterns in the past and present affect their economic status.

With. Scholars have long explored whether people’s opinions really change as they get older. This question is particularly relevant today for the aging economies of Europe, where the elderly are expected to reach 30 percent of the total population by And bythe majority of voters will be 50 years or older in most countries of the region.

population as well as the implications population aging has for various family, social, and economic aspects of society. In this report, the term “older” population refers. to the population 65 years and over. Although the decennial censuses collected data on age sincethe specific age of.

At the start of the twenty-first century, the older population was putting an end to that trend. Among people over sixty-five years old, the poverty rate fell from 30 percent in to percent inwell below the national average of percent (U.S. Census Bureau ). One country that will soon face a serious aging crisis is China, which is on the cusp of an “aging boom”: a period when its elderly population will dramatically increase.

The number of people above age 60 in China today is about million, which amounts to percent of its total population (Xuequan ). The older population is projected to become more racially and ethnically diverse as our multicultural society ages.

Inroughly 8 out of 10 people age plus (78 percent) in the U.S. were white non-Hispanic. Health disparities exist in all age groups, including older adults. The Centers for Disease Control and Prevention is aware that even though life expectancy and overall health have improved in recent years for most Americans, not all older adults are benefitting equally because of factors such as economic status, race, and gender.

This data suggests that the elderly would suffer from inflation and other economic effects much more than other segments of the population. In the U.S. the number of families living below the poverty level ($ in ) fell from percent to percent in ("Facts and Figures," ).

Advanced Industrialized Societies Are Growing Older. As of Decemberpeople 65 or older account for more than 20% of the total population. The report examines the demographic, health and socioeconomic trends accompanying the growth of the aging population. “Older people are a rapidly growing proportion of the world’s population,” said NIA Director Richard J.

Hodes, M.D. “People are living longer, but that does not necessarily mean that they are living healthier. View more Demographic Changes and Aging Population The U.S. population is aging.

Today, there are more than 46 million older adults age 65 and older living in the U.S.; bythat number is expected to grow to almost 90 n and alone, the time the last of the baby boom cohorts reach the number of older adults is projected to increase by almost 18.

Financial abuse of the elderly constitutes a common problem from which many older persons do not have the resources to recover. The National Committee for the Prevention of Elder Abuse asserts that many elderly persons often experience isolation, loneliness, numerous losses (i.e., deaths of friends/family members, loss of health, moving), and deterioration in their physical or cognitive health.

In the last five years there has been a growth in the level of food insecurity among the aging population. In % of the aging faced a threat of food insecurity. Further from to there was a 44% increase in the aging population experiencing hunger (Ziliak & Gundersen, ).

Population ageing is a global phenomenon and is occurring faster in developing countries, which have less time to adjust to the consequences of this demographic transition. Byolder people will account for 20% of the population in developing countries, the same ageing demographic currently experienced in developed countries.

What are the issues for older people in. Local economic factors like housing costs and interest rates. State of national and regional economies. o Patterns of "continuation migration" and "reverse migration" among the older-old.

Relation of socioeconomic status and other demographic characteristics to choice of destination. Socioeconomic status (SES) is an economic and sociological combined total measure of a person's work experience and of an individual's or family's economic and social position in relation to analyzing a family's SES, the household income, earners' education, and occupation are examined, as well as combined income, whereas for an individual's SES only their own attributes are assessed.

Economists and demographers expected a large exodus from the workforce as the first baby boomers reached 60 inyet the weakened economy and rising health care costs are causing many aging.

SOCIAL, ECONOMIC, AND DEMO GRAPHIC CHANGES 61 elderly are essential for policy analysis. Better income measures for example, the use of income distributions rather than averages- are needed to more accurately assess the economic status of the older population.

Economic effects of diabetes on the elderly Diabetes has been described, by doctors, as a metabolic disease in which the patient has high blood glucose (blood sugar), either because insulin production is inadequate, or because the body's cells do not respond properly to insulin.

The overall management of diabetes for older adults would be the same as management for younger adults.To understand the economic effects of an ageing population, we design a mathematical model to project future population and economic trends. These trends allow us to decipher whether each government can support its elderly population by the year 3.

GlobeSight GlobeSight is a software simulation used to. Sinceincome levels of the elderly climbed relative to the rest of the population because Social Security benefits rose 46 percent, after adjustment for inflation, while the buying power of.

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