Getting to Full Employment By Lowering the Goalpost

The folks controlling economic policy are apparently getting frustrated with their inability to restore the economy to full employment. So it seems that their answer is to redefine full employment to make the task easier, or so Evan Soltas tells us in a Bloomberg View piece today.

Soltas notes that the quit rate is not obviously out of line with the unemployment rate, which he adds is "close to most estimates of unemployment's natural level." It's worth noting that the quit rate used to be mu...