Ozimek Says Labor Participation Rate Has Room to Improve

The video discusses the decline and potential recovery of labor force participation, focusing on cyclical and structural factors. It highlights the importance of prime age labor force participation and examines state-level trends in labor force and wage growth. The debate on full employment is explored, with historical comparisons and indicators for determining full employment provided.

What signals would indicate that full employment has been reached?

How does the text describe the relationship between wage growth and inflation?

What cautionary note is mentioned regarding the estimation of full employment?