full employment
All jobs filled
Full employment is an economic condition where virtually everyone who wants to work can find a job.
It doesn't mean zero unemployment—economists recognize that some unemployment is natural as people change jobs or enter the workforce.
The term usually refers to an unemployment rate around 4-5%, below which inflation tends to rise.
The Fed targets full employment alongside price stability.
Employment supply and demand
- macroeconomicsStudy of aggregate economies
- inflationSustained price level increase
- economic growthSustained output increase
- labor force participationPercentage employed or job-seeking
job creation · human capital · productivity · wage growth · labor demand
Giving someone work
- recruitmentSeeking new personnel
- jobseekersPeople looking for work
- vacanciesUnfilled positions available
- job marketEmployment availability collectively
talent shortage · labor shortage · job openings · skilled workers · employability · job placement · workforce participation · return to work
Pro-intervention economic theory
- fiscal stimulusGovernment spending to boost economy
- monetary policyCentral bank economic controls
- central bankNational currency management institution
- deficit spendingExpenditures funded by debt
government intervention · public sector · New Deal · infrastructure investment · welfare state · quantitative easing · interest rates · federal reserve
Good fortune, success
- economic securityReliable access to resources
- living wageIncome covering necessities
- economic stabilitySustained healthy financial conditions
- social welfareGovernment help for citizens
labor market
Employment supply and demand
- macroeconomicsStudy of aggregate economies
- inflationSustained price level increase
- economic growthSustained output increase
labor force participation · job creation · human capital · productivity · wage growth · labor demand
hiring
Giving someone work
- recruitmentSeeking new personnel
- jobseekersPeople looking for work
- vacanciesUnfilled positions available
job market · talent shortage · labor shortage · job openings · skilled workers · employability · job placement · workforce participation · return to work
Keynesian
Pro-intervention economic theory
- fiscal stimulusGovernment spending to boost economy
- monetary policyCentral bank economic controls
- central bankNational currency management institution
deficit spending · government intervention · public sector · New Deal · infrastructure investment · welfare state · quantitative easing · interest rates · federal reserve
prosperity
Good fortune, success
- economic securityReliable access to resources
- living wageIncome covering necessities
- economic stabilitySustained healthy financial conditions
- East German policystate education, state pensions, planned economy, free healthcare, housing allocation
- economicssupply and demand, inflation, GDP, GNP, gross domestic product
- economyGDP, money, inflation, inflation rate, GNP
- economic policymonetary policy, tax policy, fiscal discipline, fiscal stimulus, fiscal restraint
- Postwar BritainAttlee, NHS, National Health Service, rationing, ration books
- Soviet Economycentral planning, command economy, five-year plans, planned economy, state ownership
full employmentunemployment
Being without paid work
joblessness · unemployment crisis · underemployment · structural unemployment · job scarcity
full employmentrecession
Prolonged economic decline
depression · economic depression · Great Depression · economic crisis · economic collapse
full, fully, employ, employee, employment, employer, employed, unemployed, unemployment