@clayrosenthal@TruthSandwich@futurebird 3.5% is full employment. Full employment is not actually 0, because people move into and out of the labor force rapidly. To see if there's full employment, you should check whether low-wage employers are raising wages to compete for workers, which they are. Xi'an Famous Foods in New York is advertising $21/hour wages for food service workers; in 3% unemployment Germany, Aldi and Lidl are raising wages for retail workers.