
It’s certainly not the middle one because then we would likely see falling prices and high unemployment. Imo the real problem with the job market is that the process of applying for a job has gotten less costly as the hiring process has moved online and because of that every job posting can have hundreds of people as opposed to a couple few making it much more competitive
What exactly are you saying is normal? unemployment can remain the same and applying for a job can still be getting continually more of a pain in the ass at the same time. College grads who are just working retail while looking for something that involves their degree don’t change those numbers, not everything can be boiled down to a few numbers