Full employment unemployment

As we lurch toward European-type socialism, we should expect a number of things including a smaller pie. That is, personal incomes will fall. Another economic feature we should expect is a higher unemployment rate at full employment. Whereas it may have been in the four percent range, it will probably be several percentage points higher in the future. As a result, we should not expect unemployment to decline very much from the 9.2% unemployment rate we currently have . . . perhaps it could drop a couple of percent at best.