More and more Americans over the age of 65 are clocking in and out on the job these days.

In September, the proportion of those 65 or older who were employed was up 21 percent from September 2008, while broad work force employment was down almost 1.4 percent, The Wall Street Journal reported, citing Labor Department data.

The size of the retirement-age labor force has increased 23 percent over the past four years, while the broader labor force is up less than 0.4 percent.

Editor's Note: The Final Turning Predicted for America. See Proof.

Blame a combination of failure to save for retirement and stock market volatility that wiped out savings for the increase in older Americans forgoing retirement, according to The Journal.

Some experts point out that lower interest rates — which will stay low for years according to the Federal Reserve — are forcing many to put off retirement, as their retirement savings will give back less return, which makes saving more a priority, especially since savings are low enough as it is.

“The math of what happens when assumed rates of return go down is pretty straightforward,” James Moore, managing director at fund giant Pimco, wrote in an analysis.

“To make up for this, those approaching retirement have three choices: a) save more, b) work longer or c) tighten their belts in retirement.”

As a result, not only are older Americans working longer, they’re also preventing younger Americans from entering the work force and replace them as they retire, especially if the unemployment rate remains high and keeps the Fed lowering interest rates to bring it back down, thus creating a cycle.

“[W]e see low rates leading to longer periods in the work force, which would lead to a higher fraction of older Americans continuing employment. By construction, if labor force participation goes up, unless jobs go up proportionately, unemployment will rise,” Moore wrote.

“Given the Fed’s dual mandate — 1) fight inflation, 2) stimulate growth/lower unemployment — the central bank’s natural response will be to keep rates low, thus completing the circle.”

Editor's Note: The Final Turning Predicted for America. See Proof.