Forbes notes that the unemployment rate may be low, but more ominously, so is the labor force participation rate which is the better index to look at.
Suppose you have 100 people, and only one of them is employed. If none of the 99 others are looking for work, the unemployment rate could be 0%. That would be a deceptive basis for determining if the economy is doing well.
What are the reasons for low labor force participation? Obviously, the Covid pandemic had an impact on this. But the labor force participation has been falling since the 1990s. It took more of a nose dive during the pandemic and has recovered slightly, but it is well off its pre-pandemic high.