The University of Chicago's "Grumpy Economist" John Cochrane has a post taking a skeptical look at a chart from Torsten Sloak of Deutsche Bank Research that traces the "population aged 25 to 54 as a share of total population" along with the overall "employment-population ratio":
apparently, the share of 25-54 year olds mirrors this long-run trend in employment-population ratio. In Torsten's view, the 55-65 year olds made a lot of money in their 401(k)s and are retired. ...
I'm not quite so optimistic. The average $650,000 net worth Torsten cites is nowhere near enough to live on for 30-35 years, much of this is in housing, and half the households have less. As a member of that demographic, I think there is a lot of useful work to be had out of 55-65 year olds. The same numbers can be read dreadfully as a generation whose location, skills, health insurance arrangements, marginal tax rates (social security disability, etc.) and now long-term unemployment history leave them behind, facing a long painful old age, and the economy without their contributions.