Here’s my explanation as to why the numbers look “good” but the general population considers the economy bad: These jobs are being filled by Boomer-retirees and homemakers who have been forced to reenter the workforce to pay the bills. Also, many jobs are being filled as second or even third jobs as Americans struggle to pay the rent. Finally, the COVID money has now run its course and the deadbeats that laid around on their couches for three years now have to pay their own freight and are taking jobs (and they are not happy).
Lets not forget consumer debt spending is near all time highs. What happens when these debts come due? The “booming economy” is being fueled by buy now pay later scams and the medias lies about the light at the end of the funnel. People have been hoodwinked. I dont even think rate cuts will prevent a crash.