, Columnist
The U.S. Labor Market Isn’t all That Healthy
Underemployment is a problem that isn’t measured well by the official data.
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By most measures, the U.S. is at or very close to full employment. The unemployment rate today is 3.6%, the lowest since 1969.
And yet, there is a sense that something is amiss.
Consider the following data points. In a typical full employment economy, this is what you would expect to see: