Full employment in the USA (updated 6/8/2018)

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As a complete non-economist totally ignorant of the dismal science (I am gradually understanding why interest rates rise when bond prices go down -- or is it the other way around?), I was struck by a facetious (?) observation on Facebook, to the effect that we have full employment today in the USA because so many hard-working citizens cannot earn a living wage unless they hold two, if not three, jobs. ...

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Ben Casselman, "How the Gig Economy Is Reshaping Work: Not So Much," New York Times

Excerpt:

Many companies ... now outsource large parts of their business to subcontractors. Employees of those firms will not, for the most part, count as alternative workers under the government’s definition. But they generally earn less and receive smaller benefits than equivalent workers employed directly by large companies, and they have far less opportunity to move up the corporate ladder.

“In my view, it’s this domestic outsourcing that is the big change in why wages don’t rise and why workers feel so insecure,” said Eileen Appelbaum, co-director of the Center for Economic and Policy Research, a liberal think tank. “And we have only the most indirect data to show it.”

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Sarah Whitten, "McDonald's plans to lay off workers as it streamlines management," CNBC

Excerpt:

In an email to all U.S. employees, suppliers and franchisees, McDonald's USA President Chris Kempczinski said the Golden Arches would be restructuring its regional offices around the country ...

"I recognize that change is difficult, and that eliminating layers within our organization means some employees will ultimately exit our system," Kempczinski said in the memo ...

"These planned actions are consistent with our previously announced $500 million G&A targeted savings, which we expect to achieve by the end of 2019," she said. ...