WI23-13: How Does the Death of a Partner During the COVID-19 Pandemic Affect the Economic Security of the Surviving Older Adult? Evidence From Credit Panel and Labor Force Participation Data

The death of a partner has long been recognized as a threat to the economic security of older adults. Older adults experienced a significant increase in unexpected deaths during the COVID pandemic. This study asks: How did the death of a partner during the COVID pandemic affect the economic security of the surviving older adult? Does this differ from pre-pandemic periods? We utilize a unique panel dataset for 2015–2021, combining individual-level administrative data on quarterly labor force participation and earnings and detailed financial information from credit report data for older adults (ages 50 and older) in Ohio. The credit data include death indicators each quarter. We match individuals in our dataset to probable partners within a household. We (1) examine how pre-pandemic indicators of financial vulnerability associate with the death of a partner during the COVID pandemic; (2) estimate the relationship between the death of a partner and labor force and credit outcomes—identifying differential pandemic effects relative to prior periods; and (3) explore heterogeneous effects for particularly vulnerable groups of survivors—including women and those with weaker financial histories who are more likely dependent on Social Security survivor benefits. This study is among the first to provide a detailed analysis of the economic security of older adults who experienced the death of a partner during the COVID pandemic.