full employment

British  

noun

1. a state in which the labour force and other economic resources of a country are utilized to their maximum

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full employment Cultural  

1. The condition that exists when all who want work can find jobs. Because some individuals will always be between jobs, full employment does not mean that one hundred percent of the workforce is employed. Rather, it is customarily defined as ninety-six percent of the total potential workforce.

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Example Sentences

Within 10 years the territory's GDP would be $10 billion, and households would enjoy average income of $13,000 a year thanks to "100 percent full employment and opportunity for everybody there".

From Barron's

Powell told reporters in Washington on Wednesday, following the Fed’s third consecutive rate cut since the summer, that the risks to its twin mandate of full employment and stable prices are largely in balance.

From Barron's

Powell said the dissents were a reflection of an unusual, “persistent” tension between the Fed’s dual aims of both keeping inflation under control and ensuring full employment.

From Barron's

Meanwhile, the Australian economy is close to pushing up against capacity constraints with the labor market at, or close to, full employment.

From The Wall Street Journal

This is especially the case at a time when the economy is at close to full employment and when inflation is running above target External link.

From Barron's