the participation rate has been declining for 15+ years so it's not a new phenomenon. Well, more like almost 13 years but who's counting.
Leftists like to blame the decline in 2009 on retiring boomers, but it doesn't wash. That boomer demographic anomaly was a birth boom from '46 to '64, a worker boom from '64 to '82, and we should have seen the retirement cause participation rate fall as a gradual decline starting in '93 and ending in 2011:
Whatever impact the boomers have had has been far overshadowed by the general economy.
Yeah the boomers are still working and working longer. Participation rate for 55 and older is going up:
The real issue is the decline of women as the male participation rate has declined steadily since the 40's.
One other thing, with the boomers being born from 1946-1964, if they retire at 65 wouldn’t the retirement boom be 2011-2029? 1993 would have been age 47 for the oldest boomer. That doesn’t seem reasonable to me.