Quote:
Originally Posted by peter12
Where have you seen numbers regarding full employment? Everything I have read, and heard is that the employment numbers are artificially inflated given how many people have stopped looking for work. Some analysts have caused it a jobless recovery.
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Well unemployment is at say 5.5% or something like that? Full employment is pretty much anything at 5% or less, so that's where I come up with that.
The arguments about labour force participation strike me as more political than anything else. The opposition always claims that the numbers are inflated and the government always has to explain why its a lagging indicator and everything like that. The point is that unemployment is a reasonable idea of how many people are working. Its not perfect, but not entirely useless.