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Employment Growth and Progress Toward Full Employment (CRS Report for Congress)

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Release Date Nov. 28, 2014
Report Number IN10187
Report Type Insight
Authors Labonte, Marc
Source Agency Congressional Research Service
Summary:

This report briefly discusses the status of job growth in the United States after the recession ended in 2009 and how economists have shifted their focus on obtaining full employment. This report also discusses how full employment is usually measured in terms of the unemployment rate, but that currently, the unemployment rate might not be a good indicator of the overall health of the U.S. labor market or economy. This report concludes that though employment has grown and "made up" lost ground, there still remains a "gap between actual employment and full employment" and "policy makers face considerable uncertainty as to how far the economy is from full employment and how fast the gap is closing. This uncertainty has implications for monetary, fiscal, and labor market policies."
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