I don't know. You are starting to see where education level is no longer providing the premium that it used to in the labor economy. So, you have hazardous jobs with a labor rate assuming anyone can do the job and professional jobs where it was assumed that this isn't the case. It turns out that those hazardous jobs need an increase in pay to attract workers, but part of the reason everything is built in China is because of lower than average labor costs.

If you are a new graduate, you may want to wait for a job in your field rather than take a 996 job at a factory.

Yet the unemployment rate was much higher during the last recession, we hit somewhere around 25% overall unemployment rate until they stopped counting workers who simply left the workforce.