Fed's Harker Sees Limited Slack in U.S. Labor Market: Chart

(Bloomberg) -- The main U.S. jobless rate sits at 3.9 percent, and is expected to notch down in Friday’s payrolls report, while the so-called underemployment rate -- counting those who want a job, but aren’t looking, and those in part-time jobs who’d take full-time work -- is at 7.4 percent, the lowest since 2001. A drop in the latter would further narrow the spread with the headline figure and buttress Federal Reserve Bank of Philadelphia President Patrick Harker’s comments Wednesday that the labor market has “very little slack left.”

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