workforce participation among meaningful segments is nearly 5% below the peak. "retirement" isn't just boomers taking vacations. Lack of participation is due to part time work, and borderline "disability", and a dozen other qualitative factors that are influenced by price pressure (taxes & cost of living)

I live in an older community where people are forced back to work due to skyrocketing property taxes & cost of living increases.

That is a deliberate measure