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It sounds a lot like rich people who benefited from unsustainably low interest rates threw a tantrum and tried to convince the middle class that the sky was falling.
The jury is still out, but we’ll see in due time.
Another factor to go under the heading THE JOB MARKET HAS CHANGED would be the number of people who have dropped out of the job market entirely or are now just working in the “gig” economy. Once they run out of unemployment benefits they are no longer counted as unemployed and therefore leading to lower unemployment numbers. I have seen reports that say as high as 50% of those over 55 have dropped out of the employment market. (retired early or gigging)
Agreed. There’s also a quite a few industries that are evolving; many of which won’t have as many available jobs in the near future.