Specifically, labor participation is near an all-time low so discouraged workers, who aren’t counted in unemployment numbers, are excluded.
Also, there has been a marked and ongoing shift from full-time jobs with benefits to part-time, casual, and gig work.
Finally, the widely cited consumer price index is a very politicized and skewed measure of the true inflation facing consumers. It ignores the real cost of home ownership via owner equivalent rent measures. It uses a process called substitution to replace suddenly expensive goods with cheaper goods. It includes arbitrary adjustments for improved quality of goods that aren’t always perceived by purchasers who only see the higher prices and these adjustments only work in one direction to skew CPI lower. That’s why consumers often perceive inflation to be higher than the CPI measure.