Despite a disappointing gain in non-farm payrolls in November, numerous recent data points show an extraordinary excess demand for workers.\xa0 This excess demand won\u2019t persist\xa0forever.\xa0 However, it\u2019s important to understand its causes as this can provide some guidance on two crucial questions, namely, how long might it last and how will it be resolved.\xa0 The answers to these questions can also help in assessing which asset classes could outperform in 2022 and beyond.