I define genuine full employment as a situation where…
“I define genuine full employment as a situation where there are at least as many job openings as there are persons seeking employment, probably calling for a rate of unemployment, as currently measured, of between 1 and 2 percent.”
About This Quote
This interpretation was drafted with AI assistance. It is one reading of the quote, not the author's own explanation.
Full employment means job openings match job seekers, aiming for 1‑2% unemployment.
In simple terms: Full employment is near‑zero unemployment.
Key Takeaway
Promote policies that balance jobs and seekers.
Themes
economics
labor market
policy
Mood
analytical
optimistic
Type
economic
policy
When to use this quote
- government
- business
- education
Key Concepts
full employment
unemployment rate
economic stability
Questions to Reflect On
- What policies can reduce structural unemployment?
- How realistic is 1‑2% unemployment?
A Different Perspective
Achieving exact balance is complex.