Roughly 100 million people in the US are out of work or no longer looking for work. That's approx a third of the population. "4.9% is basically full employment"

Roughly 100 million people in the US are out of work or no longer looking for work. That's approx a third of the population. "4.9% is basically full employment" is a terribly naive statement. The trend clearly shows things getting worse, not better. https://fred.stlouisfed.org/graph/?g=4CRu https://fred.stlouisfed.org/graph/?g=4CRu