I don't know what the real unemployment figure is in actual percentage but up to date it is definitely 'full employment'. It is basically only the dregs left. I operate in 4 states in Aus and in each one the cry form businesses that I see is there is no-one left who wants a job.
That will change no, there is nothing more certain that there will be many good people lose their jobs before this mess is over.
Not to certain that food is excluded from CPI. I remember a couple of years ago, after the cyclone in N.Q., the worlds best treasurer blaming bananas for the rise in cpi. I would agree however that CPI does not reflect what I see as real inflation. Reported figure is way to low.