I think you're correct to highlight the labor force participation rate but there doesn't appear to be an upper age cutoff on these stats, which is going to skew things.

"16 years and older employed or looking for work..."

Shouldn't it be something like 16 years to 66 years old? The boomers are getting older. Or even better, 20 to 70. I'm not really worried if people are delaying entry to work because they're still full time students or stopping work after they become eligible for full Social Security benefits.