Fewer older Americans are working. A booming stock market may help explain why.

Older Americans make up an ever-larger share of the workforce, a trend that dates to the 1990s.  
Over the past few years, however, the employment rate among older Americans has been falling.  
Or “collapsing,” as one report puts it. 
The share of Americans ages 55 and over participating in the labor force dropped from 39.2% in February 2022 to 36.9% in July 2026, according to data from the federal Bureau of Labor Statistics. 
In a brief Aug. 11 note, e