There are a few different views about this chapter’s historical context and time of origin. The following possibilities have been put forward:

In 723 BC, the Assyrians left after defeating Samaria (2 Kings 17:1–41), which may have given rise to the joy described in this chapter. In this case, the chapter would be narration, not prophecy. This seems unlikely because Judah was not in danger, and the content of the prophecy seems to suggest a more severe threat.

The departure of Sennacherib in the time of Hezekiah (701 BC) has also been put forward as a possibility, but this is also unlikely, as Isaiah disapproved of the people’s joy. In reality, Isaiah did support Hezekiah against Sennacherib. Furthermore, Eliakim was already the palace steward at that time, not Shebna.

Another possibility is that the people’s joy was caused by the departure of Sargon after the punitive expedition against Ashdod in 711 BC (Isaiah 20:1). The Assyrians defeated the anti-Assyrian coalition and then retreated. When Isaiah condemned the people’s celebrations, he was warning them that there would be a terrible and final destruction in the future, under the Babylonians.

It may be best to interpret the passage in a generic sense, as a description of the oncoming of an enemy and of the worldliness of Jerusalem.