Full employment is more of a term referring to developed industries; the reason India is a developing economy compared to America, for example, is many of the industries we have are more developed and "mapped out" shall we say.
What those numbers overlook is a rise in precarity. Sure, unemployment numbers look like they're doing down and we take that as a good thing, but when nearly 40% of Americans have a net worth of >$24,000 due to their low incomes? When nearly half the country is so poor that childbirth is covered by Medicaid? When nearly half the population cannot afford a $500 emergency fee? There's much more than employment numbers at play here.
The issue of automation in a looming-future sense is we're creating self-learning technology, meaning for the first time, human beings will not need to be the minds and bodies of labor production. This can likely implode the entire system because we've linked survival value to being part of the economic machine as we presently are. Linking this point to your remarks on a minimum wage, do you think companies like Uber, Walmart, and Amazon want to raise the wages of their workers when they're outright investing in tech which its fundamental goal is to eliminate 85% of the people who work for them? You now have a seesaw situation, and in neoliberal economics, this becomes zero-sum: someone wins the whole thing, and the other is thrown aside.
