Defining Full Employment in the U.S. Economy

The video discusses the complexities of the current labor market, focusing on involuntary part-time employment and the definition of full employment. It examines the Federal Reserve's policy decisions in response to economic indicators like wage pressures and inflation. The discussion highlights job market trends across various sectors and the impact of demographics on labor force participation. The video concludes with insights into the challenges posed by an aging population and the need for higher wages to attract workers.

How does the text describe the current state of the labor market?

What role does the Fed play in the current economic conditions as discussed in the text?

What are the implications of the aging population on the labor force?