|From the drink menu of The Dead Rabbit
Cynics pointed out that most of the jobs growth were due to the belated lifting of Covid restrictions. "Belated" because many of the restrictions had proven to be of dubious value.
The sectors that rebounded the most were the sectors that had been hammered. Specifically, the hospitality industry.
Suddenly, people could not quench their taste for $8 cups of coffee, fruity $19 cocktails and $400, stained-glass suncatchers crafted by androgenous humanoids invariably named "Maeve".
While this is the least of the problems we face collectively, it becomes a huge problem if you are an aspiring artist/actor/bartender and your livelihood evaporates.
Households across America are looking at their 401-k and 403-b plans and soiling their shorts.
People spend "found money" far more easily than they spend money that they equate with blood, sweat, tears and privation. Losing $100k of "found money" sweeps the legs out from beneath the discretionary spending that buys those lattes, vodka-drinks and suncatchers.