Bernstein, Wren-Lewis and macro policy

Full employment: A bipartisan goal that’s missing from the candidates’ debates by Bernstein

There are two facts you should know about full employment. First, as the bars in the figure above show, since the late 1970s, we’ve been at full employment only 30 percent of the time (see the data note below for an explanation of how this is measured). For the three decades before that, the job market was at full employment 70 percent of the time.

Central bankers and their irrational fear by Simon Wren-Lewis