Technicall yes.
I agreed with Trump on one thing back in the day and it was his attack on Obama about the unemployment rate and how it basically is a tool for politicians and we should use participation rate instead (ofcourse he end up not using it himself). The participation rate is still dramatically low, a lot of people don't believe in this job market anymore (if you worked 30 years and made some good money why would you go for a low payed job after your factory/business closed).
Honestly I am less worried about companies replacing someone because a shit ton more people are just getting fired at good payed job and give up after. Example GM that fired/will fire 10k people and those 10K people probably end up with a job that pays less or give up honestly that's more troublesome.
