Man, I think this is a multi-faceted and complex thing. The Coof pandemic revealed and exaggerated a whole lot of things.
First, a lot of industries are just now recovering/re-adjusting to the post pandemic World. Right now, the cost(s) of EVERY SINGLE COMMODITY, including steel, is elevated/inflated. Companies are paying more and therefore charging more.
Second, the pandemic really brought to light the willingness to work of the last two generations (*Millenials and Z'ers), the bulk of our workforce. I'm an X'er who was raised by two members of "The Silent Generation". My Parents were more than happy to be employed at ANY job, and didn't mind putting their noses to the grindstone to keep those jobs, doing whatever it took to do so. When they first got married, BOTH my Parents had two jobs to meet the bills. Hell, my Dad was working seven days a week at that time. They instilled that same work ethic in me. My first "career"-type gig had me working 40-60 hours a week and carrying a pager (*and later a cell phone) for when I wasn't at the office. Let's be honest, the current generations are pretty soft by comparison, and just not willing to make the sacrifices.
Third, and alluding to the above, knife making is a "skill". Many companies take weeks/months to train new employees, only to lose those employees and have to start the process over again. That cycle equates to costs. Afterall, "Time is money."
I'm neither an "Economics" graduate, nor an MBA. However, I'm smart enough to know that 2+2=4. I'm sure there are many more aspects to this issue and have only mentioned a few.
*I live in South Texas. There has been a Family-owned restaurant business, in this area, for as long as I can remember. All these years, their Business has had the highest standards, been known for their hard work standards and incredible benefits, and tried to attract the best-of-the-best. Since the pandemic, I have seen their Customer Service/quality/reputation decline. Their employees use to be clean-cut and sharply dressed. Now, many of them have Kool-Aid in their hair and look like a soup sandwich. The other day, I saw a sign, on one of their restaurants, advertising benefits included after a 25-hour work week. All of this stuff is raising the costs on goods and services, and $h!T rolls downhill to the end consumer.