Quoted here:
"We are still creating a lot more jobs than the long-term trend which we would put at 100,000 (each month), so when you are adding 200,000, that means the unemployment rate is set to move into overheating territory," Hatzius added.
The 62-year trend for total nonfarm (Jan 1939 - Jan 2001) is 138,143 jobs/month. Since 2001 through Jan 2018 we're off that trend by 46%, with a monthly rate of just 74,014 jobs added a month. Go back 18 years from May 2018 to incorporate present-day job-creation and the monthly rate goes up only to 76,597 jobs/month.
For workers, the last 17-18 years have absolutely SUCKED!
Nothing is overheating here except Jan Hatzius.
For him recovering the missing 13 million + jobs since 2001 would be a catastrophe . . . for the profits of Goldman Sachs.
