That doesn't show up as unemployment, though. It might mean the economy is getting worse faster than that graph, but boomers retiring is dampening the increase.

Boomers leaving (and being replaced) shows up in the jobs number, but not the unemployment number.

So job “growth” is overstated because much of that growth is macro demographic replacement.

But them being out of the workforce entirely shows up in the looking for work numbers decreasing. Therefore their leaving is accentuating 1 and dampening the other.

So more non-producers, who require non-productive health care means that lower unemployment doesn’t feel like a good economy. Thus their leaving healthy post covid number but other measures seeming bad.