This short revision video looks at the concept of full employment and asks whether the UK economy can reach full-employment in the current economic cycle.
There is no universally-agreed definition of full-employment; two standard definitions include the absence of demand deficient unemployment and a situation when the number of job vacancies equals the number of people actively seeking work. But many politicians focus on the employment rate rather than the unemployment rate when they set ambitious targets to reach full-employment.
Under-employmentUnder-employment occurs when people are counted as
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