Low unemployment rate only improves savings if incomes rise as a result of the increased demand for labor. Though wages have ticked up a little bit, we haven't

Low unemployment rate only improves savings if incomes rise as a result of the increased demand for labor. Though wages have ticked up a little bit, we haven't seen the expected rise in incomes that would be expected for our historically low unemployment rate. I'm not sure anyone knows exactly why, but I've been led to understand that the rosy picture painted by the unemployment rate is undercut by the copious amounts of underemployed americans, as well as leftovers from the great recessions that never re-entered the workforce. There is also the current trends of automating the workforce, and the gig economy, both of which suppress the value of labor.