full employment meaning

WFull employment
  • Full employment, in macroeconomics, is the level of employment rates where there is no cyclical or deficient-demand unemployment. It is defined by the majority of mainstream economists as being an acceptable level of unemployment somewhere above 0%.
  • The 20th century British economist William Beveridge stated that an unemployment rate of 3% was full employment. Other economists have provided estimates between 2% and 13%, depending on the country, time period, and their political biases.
  • The concept of full employment of labor corresponds to the concept of potential output or potential real GDP and the long run aggregate supply (LRAS) curve.
full employment
full employment

    Definition of full employment in English Dictionary

  • NounPLfull employmentsPREfull-SUF-ment
    1. (economics, politics) A policy goal state in which all those wanting employment at the prevailing wages can find it.
      1. ... not at the time recognized that this was a basic departure from the Keynesian view in which both of these full employments were regarded as identical.
  • Part-of-Speech Hierarchy
    1. Nouns
      • Countable nouns
        • Singularia tantum
          • Uncountable nouns

      Other Vocabulary

      Look-Alike Words
      1. en funemployment
      2. en self-employment
      3. en nonemployment
      4. en misemployment
      5. en unemployments
      Source: Wiktionary

      Meaning of full employment for the defined word.

      Grammatically, this idiom "full employment" is a noun, more specifically, a countable noun and a singularia tantum.
      Definiteness: Level 1
      Definite    ➨     Versatile