It really depends on individual circumstances. I have been out of work for 14 months now, but I had saved up money for living expenses anticipating an arduous job search. Not everyone could. Even with a lot of jobs open, not everyone is getting hired. I am either over or under qualified everywhere I apply.
I think there are two groups. One, the people who remained employed or were lucky to be reemployed quickly, who couldn’t spend their discretionary income and it built up for spending now. Two, those of us who lost jobs and haven’t found new ones, so money keeps flowing out for bills with no money coming in. I know people who have put rent on credit cards because they had no rent assistance or put their food and utilities on credit cards because they are trying to stretch their savings to cover rent. There were some locations that were unable to take advantage of assistance as well, for various reasons that do not need to be covered here.
I am happy for you that you are doing well financially after the pandemic, but there are a lot of people who aren’t doing well also.