The unemployment rate has fallen to a 16-year low of 4.3% and may not be done falling. The question is whether that is good news because it means the economy is still operating below capacity and has plenty of room to run, or bad news because it means the economy is close to overheating and heading for trouble. A study by the Federal Reserve Bank of San Francisco finds that over the past century, the jobless rate’s “natural”...

Source: Wall Street Journal August 27, 2017 15:00 UTC