I'm looking at the whole worker shortage situation like a mechanic. I see this cascading failure and don't believe it was caused by the pandemic. I feel it was more of an ignitor rather than a spark plug. The difference between the two is that the spark plug is an intermittent source of ignition where an ignitor stays heated longer. Modern day ovens and driers use ignitors.
The conditions that led the workforce to the current state appear to be longstanding. In the past we had small sparks that weren't enough to start a fire. However, the pandemic provided that long running ignitor. Once the blaze started, the powers that be who didn't understand the actual fragility of the economy made moves that exacerbated the fire. Things like super extending unemployment was helpful but also (for lack of better term) poisoned the well. People have stopped looking for jobs and started seeking out more purpose. The safety net of the secure income has taken away the urgency of seeking a job and given those out of work the luxury of being more selective.
I tend to think this is going to have to run its course. It is just going to be uncomfortable for a while.