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IMLS Summit: “Transforming Life after 50” Older Americans and the “Great Recession” Michael Zielenziger
What explains economic prosperity of  2001-7? ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Driver of the West’s economic growth
Effects of the housing boom ,[object Object],[object Object],[object Object],[object Object],[object Object]
Effects of the housing boom ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
New driver of the West’s economy ,[object Object]
The Post-Lehman brothers world ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Households Affected by Financial Distress by Age Group
A new US paradigm?? ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Recession + unemployment = “hard times” ,[object Object]
More 65+ workers than 17 year old workers… ,[object Object]
Continual rising productivity ,[object Object]
Economic prosperity not equally shared ,[object Object]
Unprecedented job losses ,[object Object]
Long term unemployment rates unprecedented ,[object Object]
Leaving stocks for  bonds ,[object Object]
“ Then” Inflation  vs.  “ Now”  Deflation” ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Productivity growth and unemployment
The 2010-2020 paradigm ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Health Care Burden: Average Annual Contributions to Premiums and Total Premiums for Family Coverage, 1999-2010 * Estimate is statistically different from estimate for the previous year shown (p<.05).  Source:  Kaiser/HRET Survey of Employer-Sponsored Health Benefits, 1999-2010. $5,791 $6,438* $7,061* $8,003* $9,068* $9,950* $10,880* $11,480* $12,106* $12,680* $13,375* $13,770*
Role for libraries ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Questions / Comments?? ,[object Object],[object Object],[object Object]

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Zielenziger: Finance and Economic Security

  • 1. IMLS Summit: “Transforming Life after 50” Older Americans and the “Great Recession” Michael Zielenziger
  • 2.
  • 3. Driver of the West’s economic growth
  • 4.
  • 5.
  • 6.
  • 7.
  • 8. Households Affected by Financial Distress by Age Group
  • 9.
  • 10.
  • 11.
  • 12.
  • 13.
  • 14.
  • 15.
  • 16.
  • 17.
  • 18. Productivity growth and unemployment
  • 19.
  • 20. Health Care Burden: Average Annual Contributions to Premiums and Total Premiums for Family Coverage, 1999-2010 * Estimate is statistically different from estimate for the previous year shown (p<.05). Source: Kaiser/HRET Survey of Employer-Sponsored Health Benefits, 1999-2010. $5,791 $6,438* $7,061* $8,003* $9,068* $9,950* $10,880* $11,480* $12,106* $12,680* $13,375* $13,770*
  • 21.
  • 22.

Editor's Notes

  1. From peak to trough more than 8m jobs were lost. As many Americans are working now as in November 1999.
  2. “ Seventy is the new 17,” says the director of the Schwartz Center for Economic Policy Analysis at New York’s New School for Social Research. “Seniors are now overrepresented in low-income jobs normally associated with teens.”
  3. nonfarm payroll employment almost 7 percent (7.7 million jobs) lower in July 2010 than it was when recession began in December 07
  4. The share of the labor force that have been unemployed for more than 26 weeks rose higher than it had been at any point in the past six decades
  5. Investors withdrew a staggering $33.12 billion from domestic stock market  mutual funds  in the first seven months of this year