"At the moment, the Congressional Budget Office puts NAIRU at 4.6 percent, a little above the 3.9 percent unemployment rate. That means the U.S. is at full employment – and that wages should be going up."
From Wikipedia, Non-accelerating inflation rate of unemployment (NAIRU)[1] is a theoretical level of unemployment below which inflation would be expected to rise.[2]
How US employment today compares to pre-pandemic times | World Economic Forum (weforum.org)
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