Data doesn’t always show a full picture. Example: Functional unemployment was 23.3% in January — very different than the 4% headline figure.
!["[Net] wages haven't increased over the last 20 years" for middle- and low-income Americans, said Gene Ludwig. "For 60% of America, they've actually declined or been stagnant."](https://img.apmcdn.org/d466ab91bb772192040ac2b1dd9a8e953b12e2d8/uncropped/5f8679-2025-03-gettyimages-2183545773-scaled-e1741607942420-webp2000.webp)