4 ms·
Full employment means 100% of people eligible to work are working. (0% unemployment rate) it does not mean employers filling all their open job requests.
by spacemanspiff01 3y ago
Full employment means 100% of people eligible to work are working. (0% unemployment rate)
it does not mean employers filling all their open job requests.
- gruez 3y ago> Full employment means 100% of people eligible to work are working. (0% unemployment rate) If you did a 30 second search you'd find that's not correct. >Full employment is a situation in which there is no cyclical or deficient-demand unemployment.[1] Full employment does not entail the disappearance of all unemployment, as other kinds of unemployment, namely structural and frictional, may remain. [...] >For the United States, economist William T. Dickens found that full-employment unemployment rate varied a lot over time but equaled about 5.5 percent of the civilian labor force during the 2000s.[5] Recently, economists have emphasized the idea that full employment represents a "range" of possible unemployment rates. For example, in 1999, in the United States, the Organisation for Economic Co-operation and Development (OECD) gives an estimate of the "full-employment unemployment rate" of 4 to 6.4%. This is the estimated unemployment rate at full employment, plus or minus the standard error of the estimate.[6] https://en.wikipedia.org/wiki/Full_employment https://en.wikipedia.org/wiki/Full_employment
- MuffinFlavored 3y agosee my reply here: https://news.ycombinator.com/item?id=38356788 https://news.ycombinator.com/item?id=38356788