Earlier quoted context omitted.
> Average wages section of the jobs report would reflect this change. Not if someone else at the top got paid more.
If the same amount of wages are getting paid out and its merely getting reallocated as to whom, that's a very different scenario from people getting laid off to reduce labor costs. Unemployment is meant to track how many people are working, not income equality.
Perhaps we need better metrics actually tracking income inequality, because tracking employment rate without that seems pretty disingenuous as a metric of aggregate economic health.
Or rather, we should be reporting such metrics that we surely must track already together.