Pathways to retirement: Patterns of labor force participation and labor market exit among the pre-retirement population by race, Hispanic origin, andsex

Objectives. This study examines the pre-retirement labor force participatio n behavior of Black, White, and Hispanic men and women to determine how pat terns of labor market exit differ among groups. Methods. We combine data from the first and second waves of the Health and Retirement Study and apply multinomial legit regression techniques to model labor force status in the first wave of the HRS and change over time. Results. Black, Hispanic, and female elderly persons experience more involu ntary job separation in the years immediately prior to retirement, and the resulting periods of joblessness often eventuate in "retirement" or labor f orce withdrawal. Minority disadvantage in human capital, health, and employ ment characteristics accounts for a large part of racial and ethnic differe nces in labor force withdrawal. Nevertheless, Black men and Hispanic women experience more involuntary labor market exits than Whites with similar soc ioeconomic and demographic characteristics. Discussion. Workers most vulnerable to labor market difficulties during the ir youth confront formidable obstacles maintaining their desired level of l abor force attachment as they approach their golden years. This has signifi cant policy implications For the contours of gender and race/ethnic inequal ity among elderly persons, particularly as life expectancy and the size of the minority elderly population continue to increase.