Producers are earning big due to price increases: they make more profit by selling less products. But this will cause snowball-effects: fewer production, though still profitable, means to lay-off the unneeded workers... Meaning unemployment has to rise. Meaning fewer people can afford to buy the products... Armchair Economics 101. Q.E.D.
This is how business cycles works, without productivity gains the system will inevitable degrade due to short-term benefits & long-term disadvantages of policy action to smooth impact of business cycles on trend.
In the short term our markets are expecting unemployment to be around the same, but by the end of the year they're expecting unemployment to be around 3.9% (significantly higher than now): https://kalshi.com/events/U3-23NOV/markets/U3-23NOV-T4.0/ Hope this helps!