Explanations
What Full Employment Means
2nd February 2017
This is an excellent short piece from the Economist exploring the concept of full employment
It focuses in particular on the tricky task of estimating the natural rate of unemployment / NAIRU as the labour market edges close to unemployment rates last seen many years ago. Can inflationary pressures be controlled if UK unemployment for example gets close to 4% of the labour force?
- Economics
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- Explanations
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- Unemployment
- Natural Rate of Unemployment
- Phillips Curve
Geoff Riley
Geoff Riley FRSA has been teaching Economics for over thirty years. He has over twenty years experience as Head of Economics at leading schools. He writes extensively and is a contributor and presenter on CPD conferences in the UK and overseas.
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