According to the Federal Reserve Bank in St. Louis the labor participation rate is at its lowest point since the Carter years.
Federal Reserve Vice Chairman Stanley Fischer told a an audience at England’s Oxford University this week that the US economy is nearing “full unemployment.”
Reuters reported:
The U.S. economy probably bounced back to an annual growth rate of around 2.5 percent in the second quarter, and the labor market is approaching full employment, Federal Reserve vice chairman Stanley Fischer said on Tuesday.
He said “tentative” signs of wage growth and continued job creation also gave him confidence that U.S. labor markets will continue improving, and gradually push inflation towards the Fed’s 2 percent target.
But according to economist David Stockman the real unemployment rate in America is closer to 42.9% .
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