What Is Full Employment?

Full employment is an economic term with multiple meanings. Its concept was put forward by British economist JM Keynes in the book "General Introduction to Employment, Interest and Money", which means that under a certain wage level, all people who are willing to accept work have been offered employment opportunities. Full employment is not equal to full employment, but there is still some unemployment. But all unemployment is frictional and structural, and the interval between unemployment is short. The level of employment when the unemployment rate equals the natural unemployment rate is often referred to as full employment.

Full employment

Full employment, also known as full employment, is a hypothesis in economics that refers to the fact that all people find suitable positions, and there is no waste, except for normal temporary non-employment (such as job changes). With full employment, it still exists

1. Full employment means that everyone who is willing and able to work has got a relatively satisfactory

Full employment is both a rational expectation pursued by micro-resident households to maximize their income and a macro-policy

"Circular Economy Support Technology for Key Industries"

The primary policy objective of government regulation. The significance and ultimate goal value of full employment is:

Guarantee of full employment rights

In the state of full employment, each worker has found the job he or she expects to find. In the job position, the worker has actually proved that he has the independent decision-making, voluntary choice, free movement, automatic employment and self-employment. The real right to development, the viable abilities of the workers have been reflected, proven and used, and their own internal needs and preferences have been met, and it is possible to achieve comprehensive development in accordance with individual wishes.

Full employment economic support

Under full employment, individual workers have reliable job security and have found a stable and reliable source of income. Resident households can maximize their income. It is possible to maximize the development of individuals or households in all aspects. Labor Once a person is unemployed due to loss of employment opportunities, he will also lose the economic support for personal and family development.

Full employment spirit

When a full-employed worker finds a job, he also finds his own social affiliation. He will no longer be in a state of social isolation, abandoned and marginalized by the society, and his psychology will no longer be distorted by unemployment. The original unemployment psychology will be corrected in a timely manner, and the future will no longer linger, hesitate and perplexed. The employees will have their desired social positioning, prove their social value, and their spiritual needs will be met.

Full employment and harmonious development

All social resources, including human resources, have been optimally allocated under full employment.

Gdp off the altar

The economic output GDP is close to or equal to the potential output, the economic operation curve is near the edge of the production possibility curve, and the economic cycle is in the booming and rising stage. The national economic cake has reached its maximum, even if the income distribution ratio remains unchanged. Individual family income and government fiscal revenue will also increase accordingly, and population development, economic growth, and social progress are in a dynamic and harmonious healthy operating state.

Full employment resolves conflict

The state of full employment proves the fairness and effectiveness of government decision-making and government policies. The government's macro-control policy goals have been achieved. The public's satisfaction with government agencies has been improved, the political support rate will be improved, and the government can continue to use The financial revenue supports the all-round social development, and the labor population with working ability and willingness to work has its own job. Certain instability factors such as turbulence, conflicts, frictions, and riots hidden in the process of social development have been resolved in a timely manner. The social friction between the vertical government and the public is fierce, and there will not be huge conflicts between horizontal social strata or various interest groups.

It is precisely because the state of full employment meets both the public needs at the micro level and the needs of the government at the macro level. It is the best coupling state between the government and the public's rational expectations. Therefore, people with different political opinions from all walks of life can oppose Everything, but no one is opposed to full employment. Full employment, as the optimal development state generally pursued by all countries in the world, is ultimately first and foremost beneficial to human development. Full employment has great humanistic development value and humanistic development value. Full employment is beneficial to population development in the first place. The biggest beneficiary is the public. Only when the vast majority of China's population first obtains sustainable development, can China s sustainable economic growth and sustainable progress in society be fundamentally supported by sustainable power. . If only the bureaucratic class obtains optimal development, the urban population gets suboptimal development, and the vast majority of the rural population in China cannot get development, and the urban and rural population is divided into "development" under the state of dual structure, and China will have a sustainable development. The "bad growth phenomenon" of growth without development.