What is Full Employment?
In an important sense, the US economy is now at full employment: The relatively tight labor market is causing wages to rise at an accelerating rate, because employers must pay more to attract and retain employees. This has important implications for policymakers – and not just at the Federal Reserve.
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CAMBRIDGE – In an important sense, the US economy is now at full employment. The relatively tight labor market is causing wages to rise at an accelerating rate, because employers must pay more to attract and retain employees. This has important implications for policymakers – and not just at the Federal Reserve.