Some of the biggest optimists on Wall Street see 3 threats to a strong labor market

• The labor market may be returning to pre-pandemic conditions, Goldman Sachs found.
• Still, hiring rates are down and unemployment levels are expected to rise slightly.
• GS economists write the unemployment rate could rise above 4%, while the pace of hiring may fall.

The labor market looks like it's on its way to resembling that of pre-pandemic years — though returning to normal may come with several concerning developments.