IMO Labor shortage can turn into a Labor surplus very fast once people stop spending.

Right now there is still just lots of money sloshing about.

That said I still stick to my theory that the FED and TPTB are scared to death of a recession for some reason and will issue helicopter money at first sign of serious downturn.

But if we were to get a serious recession I think it would look a lot like 2000 when everything crashed in a heart beat and even good tech people found themselves out on the street.