Full employment: Difference between revisions
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== Introduction == | == Introduction == | ||
'''Full employment''' is the economic concept that refers to a situation where the entire active population of a country is working. | '''Full employment''' is the economic concept that refers to a situation where the entire active population of a country is working. The consequences of a society reaching full employment are entirely positive. Reaching this situation would imply that the markets are in perfect balance, companies would have no problem finding qualified personnel for their jobs and citizens would find employment at any time. | ||
The consequences of a society reaching full employment are entirely positive. Reaching this situation would imply that the markets are in perfect balance, companies would have no problem finding qualified personnel for their jobs and citizens would find employment at any time. | |||
In reality, it is practically impossible to reach an exact moment in which the demand and supply of labor are equal, because there will always be this frictional unemployment (for example, workers who are not satisfied with their current position given their training, and spend months unemployed until they get a better offer), but it is an ideal situation and everything that means approaching it is positive. | In reality, it is practically impossible to reach an exact moment in which the demand and supply of labor are equal, because there will always be this frictional unemployment (for example, workers who are not satisfied with their current position given their training, and spend months unemployed until they get a better offer), but it is an ideal situation and everything that means approaching it is positive. | ||
Revision as of 21:17, 11 November 2022
Introduction
Full employment is the economic concept that refers to a situation where the entire active population of a country is working. The consequences of a society reaching full employment are entirely positive. Reaching this situation would imply that the markets are in perfect balance, companies would have no problem finding qualified personnel for their jobs and citizens would find employment at any time. In reality, it is practically impossible to reach an exact moment in which the demand and supply of labor are equal, because there will always be this frictional unemployment (for example, workers who are not satisfied with their current position given their training, and spend months unemployed until they get a better offer), but it is an ideal situation and everything that means approaching it is positive.
