[eigen]

> Full employment of a smaller labor force,

the civilian labor force is higher than ever. as of Sept 2022, 153M non-farm workers [1], 130M private employees [2].

[1] https://fred.stlouisfed.org/series/PAYEMS

[2] https://fred.stlouisfed.org/series/USPRIV

[time_to_smile]

I feel like I shouldn't have to explain the idea of participation rate but what you've posted is the numerator, you need to divide it by total working age population to get the rate.

[eigen]

you said "Full employment of a smaller labor force". its not a smaller labor force. its a larger labor force as the number of employees is at an all-time high.