The majority of the hours worked in the US economy are pure pointless waste. The waste rate is so high because labor is cheap. With more expensive labor, companies will have to use it more responsibly.

If you think companies use labor efficiently, you have clearly never worked in a big corporate office.

Solving the labor crisis of aging is trivially simple. The market will simply force companies to be more efficient with labor. And as labor earns higher wages, workers will pay higher payroll taxes and be able to keep the pension system running.