Indeed and it's rare that you hear anything about the natural rate of unemployment these days (which I still subscribe to). I have it pegged right at 5% and anything lower might even be a problem.
I believe years ago (10 or so) an unemployment rate of 6% was considered full employment and lower thhen that considered inflationary.
I agree, I think that 5% is pretty much full employment when you account for those who are abusing the system and those casual workers who work just enough to get by with their additional government benefits.