I think it can but I wouldn't call it a miracle. The "boomer bulge" in the workforce is in the process of entering retirement en masse. The generations replacing them are smaller. This will contribute to higher inflation (lots of money that was sitting in real estate and 401ks being withdrawn to compete over a limited supply of basic goods and services like healthcare), and also to lower unemployment.
It doesn't necessarily mean we are experiencing a miracle and will have higher living standards, I promise it is quite possible for a nation to banish unemployment but still have a majority of people struggling to get by.
That being said, I think we haven't seen the full effect of higher interest rates yet, we are just getting started with that.
It doesn't necessarily mean we are experiencing a miracle and will have higher living standards, I promise it is quite possible for a nation to banish unemployment but still have a majority of people struggling to get by.
That being said, I think we haven't seen the full effect of higher interest rates yet, we are just getting started with that.