Which term is used to describe a situation where most people who are looking for work are able to find a job?

Question

Business

Kelsey Zavala

9 October, 19:30

Which term is used to describe a situation where most people who are looking for work are able to find a job?

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Answers (2)

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Kiera Reynolds · Answer 1

Full employment

Explanation:

Full employment is used to describe an economic situation where all available labor resources are used efficiently. In full employment, the highest number possible of both skilled and unskilled workforce is employed.

Full employment is an ideal situation where everyone seeking employment will find a job. Under this condition, the rate of unemployment is zero. For an economy to achieve full employment, it must be producing at its full potential. Full employment is a hypothetical situation that is difficult to achieve practically. A business cycle that occurs naturally is among the reasons for not attaining full employment.

Dallas Lamb · Answer 2

Full employment

Explanation:

Full employment is a condition in which all/most people who are willing and are actively seeking for jobs are able to find a job/get employed. in full employment condition the skilled, semi-skilled and the unskilled are all fully employed in the economy.

A full employment condition is a very unrealistic condition that most Economies of the world have strived so hard to achieve but are still facing challenges. the unemployment rate can be drastically reduced but might not be eliminated completely because some unskilled persons might not get jobs requiring a skilled individual hence might still remain unemployed until jobs requiring no skills are open.