Policy responses during the Trump administration to older people’s growing economic risk exposure

ABSTRACT

Economic risk exposure through increased labor market volatility and growing caregiving responsibilities has risen for older Americans. At the same time, key protections such as unemployment insurance and Social Security have declined, while other protections—particularly in the private market—are limited or nonexistent. Social policy can lower the chance of risk exposure and the associated costs, especially with respect to unemployment and caregiving. In virtually all instances, however, the Trump administration has already moved to weaken existing protections. And it has offered either no proposals or very limited proposals to increase protections in the private sector As a result, an aging population will increasingly face rising economic risks on their own.

KEYWORDS:

• Unemployment
• caregiving
• risk exposure
• social policies