The workforce for adults age 55 and up in the workforce is at its lowest level in two decades, driven by the aging of baby boomers. This shift is one of two major demographic forces affecting the labor market. The youngest boomers are now 61 years old. Older workers are also benefiting from a sharp increase in wealth due to rising home and equity values. Some older workers are leaving the job market due to AI disruption, while others are laid off due to the challenges they face. However, these departures are minor compared to the population dynamics in play.