Older folks are working more for I think two reasons, from what i have read. The first is a more long term trend at least in certain professions of people being physically able to work longer because they are in better health. I think this trend is occurring regardless of the ups and downs of overall economic conditions. The second is more tied to the Great Recession, and that is that those who might have otherwise retired, say those turning @65 during the period 2009 until now?, still going on?, saw their retirement nest eggs, in equities and house values, decline so much they could not retire. Some housing markets are still well below their bubble peaks. In my area, I think the peak was roughly 2006-2007. Prices still have not gotten back to that level. They may not for another 3 to 5 years. Now of course equities have come back in a big way. But depending on how your retirement nest egg was apportioned, you may still be below your 2007 level today. That I think is a big enough factor to explain the participation rate of that particular age demographic.
