Unemployment is low because companies have had access to really cheap money, and have been hiring people in an attempt to grow their business. This is the poin

Unemployment is low because companies have had access to really cheap money, and have been hiring people in an attempt to grow their business. This is the point of low interest rates, but it has caused inflation, and it has caused a potential "bomb" now that rates are hiking. Those employees were hired in the hopes of fulfilling tasks which were also being fueled by cheap money. When the money dries up (which it has), it's only a matter of time before those jobs get cut.