Also keep in mind that the unemployment rate is highly skewed. It doesn't factor in people who have dropped out of the workforce or consider minimum wage or nearly minimum wage workers. If unemployment was truly as low as it says, then wages would be going up due to a higher demand for workers. This wage increase is not being seen.
This seems like a form of the HN "middle-brow dismissal" where you claim an expert is wrong because they didn't explicitly rebut the first thing you happened to think of. Those people are called "discouraged workers" and are tracked.
One reason wages don't go up is that the value of employer benefits goes up every year because of the incredible cost of providing health insurance.
