Economists declare: ‘Full employment in US!"

“Full employment!”

In a note following February’s jobs report, economists at BNP Paribas declared that the US economy has reached full employment.

Full employment is the level of unemployment at which economists consider there to be no “deficient-demand” unemployment, meaning that the unemployment rate is as low as the economy can tolerate.

In January, the economy added 257,000 jobs, the 11th straight month that nonfarm payrolls few by more than 200,000, the longest streak since 1995. The unemployment rate ticked up to 5.7%, though this is still at the lowest level since July 2008 as the labor force participation rate moved up to 62.9% in January from 62.7% in December.