In reality, there are indicators that the labor market continues to be very solid — one thing Jerome H. Powell, the Fed chair, acknowledged this week. Other categories that experienced supersize progress throughout 2021 and 2022, including transportation, warehousing and data technology, have been falling back to their prepandemic developments. Another handful of sectors, such as retail, have been largely flat. That pattern could continue if greater wages keep bringing folks off the sidelines. The variety of people not within the labor force who want a job has surged in recent months, to 5.8 million, suggesting that they may bounce…