I'm not so sure about that. I suspect the mismatch in labor participation rates pre vs. post COVID is mostly accounted for in early/normal retirements. All tho

I'm not so sure about that. I suspect the mismatch in labor participation rates pre vs. post COVID is mostly accounted for in early/normal retirements. All those boomers that they were warning were going to eventually retire just happened to do it at the same time. They won't be coming back to the labor market. Anecdotally between my parents, aunts, and uncles I have eight relatives who retired in the past two years (between that ages of 55 - 65).