"Workers are receiving the fattest wage increases since the Great Recession as employers struggle to find enough people to fill their ranks and employees have more leverage to demand higher pay and jump to better jobs.
Wages grew 3.4 percent in the past year, the government reported Friday, the fastest pace in nearly a decade and well above inflation, suggesting that employers are hustling to lure and retain workers. Many are slashing requirements for jobs and are hiring workers quickly to prevent them from being scooped up by competitors, a far cry from the days when job seekers felt lucky to even get a callback.
The unemployment rate fell to 3.8 percent in February, marking one year of sitting at or below 4 percent, a level many economists regard as “full employment” — when there are few people left who want jobs and cannot get them." Washpost
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Interestingly, the Washington Post print and online editions seem to be run by two quite different groups of people. This article was above the fold and right side in today's print paper. This indicates the editorial staff's opinion as to what is the most important story in the paper. In contrast the online edition does not even mention the story. I had to go to the print edition to recover the story.
I do not know what you were taught, but in Economics 101 or whatever it was I was taught that 4% unemployment is FULL EMPLOYMENT because the 4% or less of those still unemployed have significant structural obstacles to employment, health, age, etc.
It seems to me that both Trump and Obama should get some credit for this situation in the minds of working men and women.
Do they? pl
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