Nationally we think it's impossible to say exactly when we've reached full employment. But it sounds like in Florida you're there.
More Quotes from Jared Bernstein:
The weakness in the labor market is clearly reducing the growth of earnings, meaning consumers, most of who depend on their paychecks, are likely to remain insecure about where the economy is headed. This in turn has the potential to constrain consumptionJared Bernstein
We did not see the tremendous upsurge in injuries we thought we might get, ... It gets really difficult when it is tremendously hot during the night - not just when it is really hot days, but when it is really hot weeks.
Jared Bernstein
We're looking at a recessionjobless recovery that's two years old to the day.
Jared Bernstein
Clearly, Katrina hasn't shown up in the jobless claims yet, but it will, ... Next month, we're going to be looking at one of the largest one month negative spikes in the history of this series, going back to the '30s.
Jared Bernstein
Maybe by the second quarter of next year, we'll be looking at some lower unemployment rate -- say in the 5 to 5.5 percent range, if we're lucky. But that would be the best to hope for, and it's based on our working through these excesses that persist.
Jared Bernstein
This is what a healthy job market looks like we just haven't seen it for a long while, so it makes inflation hawks nervous.
Jared Bernstein
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