One chart that explains a lot

[SAJ-99]

Hunt tag demand
Shortage of workers
Wage inflation
Poor service quality (experienced trains new worker)
Deficits (remember, we tax wages)

I’m sure there are more. I would think this goes back toward long term normal at some point, but it looks very sticky so far.

 

[jrabq]

Interesting chart. But I think the "hunt tag demand" uptick started way before 2020. But still correlated with old guys with more money than time left on the planet, like me.