Older Americans are leaving the workforce at a faster pace, with labor force participation among people aged 55 and above falling from more than 40% before the pandemic to 36.9% in July. Bank of America economists said rising wealth is a key driver of the shift, as nearly 40% gains in the S&P 500 over the past two years and expanding 401(k) retirement account balances may have given more Americans the financial capacity to retire earlier.