I give you one out of 3... Most likely due to early retirements.
That's quantifiable based upon the aging of the population and increased number of people opting to collect their benefits.
'Cost of going to work is going up' is obviously not discouraging new hiring...+455K preliminary new jobs report....and the practicality of remote work, proven during the pandemic, also belies the effect of rising gas pries.
You have no basis to make a claim of 'bad economy' when the new job creation, rising participation rate, declining unemployment and rising wages belie such a claim.
You should note that the participation rate IS rising and that it tanked when president 'I downplayed the virus because I didn't want to panic people' didn't persuade employers to not shut down. A vote of no confidence in the politicization of the Covid response and the junk science that accompanied it.