Unemployment seems to have flattened out among whites and Asians, in the 3 point something range. This may be full employment for the members of these groups.
Unemployment has been crashing among blacks and Hispanics. Among African Americans, unemployment has fallen from a recent high (October 2016) of 8.6 percent to 7.1 percent. Among Hispanics, from 6.4 percent (September 2016) to 4.8 percent. If we think full employment is in the range 4 to 6 percent, Hispanics are now in middle of that range. African Americans are not far from that range.
FURTHER decreases in unemployment will now have to come from extending opportunity to minorities and others traditionally "the last hired and first fired." Other increases in employment and production can come from: (1) moving people from part-time to full-time work, and (2) increasing labor force participation.
Unemployment methodology hasn’t changed. Numbers still phony-baloney. Direction is good, but actual is murky.
they also revised the numbers for April & May up- significantly...
“others traditionally ‘the last hired and first fired.’”
Would that include long-term jobless and other deemed less-ideal individuals?