In Federal Reserve Chairman Jerome Powell’s testimony in front of the House Financial Services Committee on Wednesday, he indicated that even with 4 percent unemployment, we may still not be at “full employment” — meaning the economy can continue to generate jobs without fears of it stoking inflation.

That’s good news for job seekers, but presents an even steeper challenge for employers who are already struggling to fill the reported 6.6 million vacant jobs in the U.S. For decades, the enormous burden the tax system placed on businesses took center stage. Now with the nation’s tax code updated for the first time in a generation, businesses are saying their primary challenge is finding qualified workers — a new kind of test for public policymakers who have spent the better part of the last decade contemplating high unemployment rates and lethargic economic activity.