Brownstein's point is that the traditional pattern in the workforce has been for more young people to be at work than for their elders. This pattern is reversing, we now see more elders continuing to work while young people are having trouble finding jobs.
These two factors are not unrelated. If elders don't leave the workforce, vacancies are not created for young people to fill.
The recent recession zapped the value of elders' savings; reducing home and equity portfolio values that elders counted on to fund their retirements. If ones retirement nest egg is depleted one hesitates to retire.
