Business Insider -
17 May 2015 04:21

"Full employment" sounds like a bit of a pipe dream. But the UK may in fact be approaching it -- in fact it may already be there. The economic concept of full unemployment basically means a level where almost everyone who wants to work will be in work -- i.e. the supply of jobs is strong enough to meet demand. Zero unemployment is actually undesirable from an economic stand-point as in theory it would allow employs to dictate their own pay and as a result drive inflation. Looked at another way, ...
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