This is a headline from an excellent AP article this morning.
Please remember that the Jobless rate is not a leading indicator of market movement or consumer sentiment. We expect the jobless rate to eventually hit double digits and a new floor of full employment to be established above the old 4%. In the past 4% unemployment was considered full employment, we expect the new floor to be higher in the future.
Our best guess, and this is a wild guess on when employment will stabilize, would be late this year or early next. Patience JK