[spamizbad]

Nobody wants to say the quiet part out loud but... It's bad politics in the United States to have a strong labor market for too long: you have lots of anxiety among small and large businesses and you have inflation pressure. So they're going to manufacture unemployment to cool everything down.

[shock-value]

Another more optimistic way of looking at it is the idea that as we transition into a higher interest rate environment, there will be short term pain as unprofitable businesses downsize / go under, their workers are let go, but they eventually make their way into healthy/sound companies that now have the scope to grow and contribute to real macroeconomic growth rather than just the nominal smoke and mirrors of the recent economy.

[spamizbad]

I hope you're correct. Those businesses closing will cool off the job market and people will be left behind. Lots of people never recovered from the 2008 crash.