How is the Bay Area at 'full employment'?!

I saw a clip on the news and it made me think, I need to figure out what they mean. 

The clip said the bay area was at 'Full Employment' and as someone who lives in Oakland I see and speak to homeless and unemployed people all the time. 

Janice Shriver, a labor analyst for the state, says we have more jobs now than at any other time in history in the Bay Area.

Shriver says we are in what’s called “peak employment,” where virtually anyone who is willing and able to work, is working, across practically all industries.

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