If there is a labor shortage then why are the jobs being created of the kind that are less advantageous to workers? Isn’t the market supposed to “correct” in favor of labor in that scenario? Because it looks like the opposite has happened.
The purpose of neoliberalism is to ensure that no matter the actual ratio of supply to demand, the price of labor will never rise. Must never rise. The basis of this entire economy is low wages.
But once that is unavailable, and demand starts dropping because they’re not seeing the money come back to them (since it’s easier and easier for it to get funneled to the top), then the market will adjust again. However, you never know when it can stop because governments tend to keep pulling money from the future to pay for things like healthcare and retirement welfare for people who didn't save enough.