Two days ago I was watching a German TV show in which the panelists discussed the low-wage-job boom: apparently unemployment is very low (5.6%) but an unhealthy portion of the jobs people are working are low-wage and/or exploitative of labor, and thus not really contributing to long-term social stability. If too many people are working minimum wage and the minimum wage isn't realistic then sooner or later you have a…
true, but things like wages and social standards are other statistics. Additionaly to the mentioned "low-wage-job" boom you have to mention part-time employment. Which does count as employment but doesn't result in the usual 40h+/week.
IANAStatistician, just pointing out that "hey look 5% unemployment" can be a very misleading statistic to use for laypersons.