Back in February of 2016 Fortune magazine published an article entitled “The U.S. Economy Is Finally at Full Employment” and then in May CNN-Money published an article entitled The U.S. is ‘basically at full employment’ quoting San Francisco Federal Reserve President John Williams as saying “We’re basically at full employment…that’s very good news.”
“We’re basically at full employment…that’s very good news.” San Francisco Federal Reserve President John Williams
So what is “Full-Employment” and are we really there? At first glance you might think that full employment should equal 0% and with the current unemployment rate hovering around 4.7% we obviously aren’t there. But Full employment, in macroeconomics, is defined by many economists as being an acceptable level of unemployment somewhere above 0%.
Even when employers are having difficulty finding employees some people are [Read more…] about Is the U.S. Really at “Full Employment”?