The official jobless rate is so low the Fed thinks the economy is at full employment. But a gauge of the ‘functionally unemployed’ keeps climbing
- Posted on August 30, 2026
- By Fortune
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- 1 min read
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The official jobless rate is so low the Fed thinks the economy is at full employment. But a gauge of the ‘functionally unemployed’ keeps climbing
"If this continues, it would suggest the labor market is losing strength despite what we may see in the headline unemployment numbers."
