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Full Employment: Are We There Yet?

NPR | By Cardiff Garcia,

Stacey Vanek Smith

Published December 13, 2017 at 3:53 PM EST

Today's Planet Money indicator is 4.55 percent. The Federal Reserve said just this afternoon that the American economy is at full employment when the unemployment rate is 4.55 percent.

The Fed updates this estimate every few months. And for years, it's been getting the number wrong.

Today on the show, what is full employment, why is it so hard to pin down, and most importantly, are we there yet?

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Cardiff Garcia

Cardiff Garcia is a co-host of NPR's The Indicator from Planet Money podcast, along with Stacey Vanek Smith. He joined NPR in November 2017.

See stories by Cardiff Garcia

Stacey Vanek Smith

Stacey Vanek Smith is the co-host of NPR's The Indicator from Planet Money, and is a correspondent for Planet Money.

See stories by Stacey Vanek Smith