Are we at full employment? The vast majority of economists surveyed this month by The Wall Street Journal think we're just about there. Asked if the U.S. economy has reached full employment, 42 percent said yes and an additional 48 percent said no, but that it’s close.
“Full employment” doesn’t necessarily mean every American who wants a job has one. Economists use the term to describe the point where unemployment can’t go any lower without generating price and wage pressures.
The U.S. unemployment rate was 4.1 percent in December, remaining at its lowest level in 17 years. It has come down from a peak of 10 percent in the immediate aftermath of the 2007-09 recession.
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