Hard indicators show the economy is relatively healthy on paper: The US added a higher-than-expected number of jobs in May, inflation is getting under control, and the unemployment rate is low.

Unemployment rate is irrelevant. What matters is how much these jobs pay.

1 in 4 Americans is functionally unemployed, i.e. they have a job, but it doesn’t pay a living wage.

That’s the crisis that the US is currently in.