A Bloomberg BNA report on April 20 (paid subscription required for access) covered a debate we’re happy to have: whether the economy is at “full employment” or only “almost‐full employment” after the tax and regulatory reform and more employer‐friendly administrators have had time to work. According to the Federal Reserve, the current unemployment rate of approximately 4.5 percent means the economy is now finally at full employment. The Chair of the President’s Council of Economic Advisors is not entirely convinced. That naysayer is apparently asserting that “full employment” requires unemployment levels of 4 percent or less. In any event, the good news keeps on coming. According to the Federal Reserve, the unemployment rate is likely to fall even further, to 3.8 percent by the end of 2018 and 3.6 by the end of 2019, as businesses consider hiring more workers and doing more business in the still‐improving economy. 

Meanwhile, Marketplace, heard on National Public Radio, cites a report from the National Association for Business Economics indicating that more than one‐third of U.S. companies have increased pay in the past quarter to try to attract workers, and that other employers have increased internal training or lowered qualification requirements to get workers. 

Meanwhile, Marketplace, heard on National Public Radio, cites a report from the National Association for Business Economics indicating that more than one‐third of U.S. companies have increased pay in the past quarter to try to attract workers, and that other employers have increased internal training or lowered qualification requirements to get workers.