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sublineartoday at 7:15 AM0 repliesview on HN

There was a hiring bubble in 2022 just before the Fed raised interest rates. I'm not understanding what the mystery is.

The link you're responding to has the option to zoom out more to 2020. If you scroll down to view the other related graphs, you'll find that they also index 2020 as a starting point because they're all tracking this hiring bubble.