Full employment: what is it and can it happen?

Nice summary of the different measures used. I prefer Beveridge’s definition.

Second reading

At the start of this year Prime Minister David Cameron set a goal of full employment. But what is full employment and how is it measured? Whilst a literal interpretation would imply everyone having a job, actual measures of full employment normally refer to a level of employment or unemployment, where those looking for work are able to find it.

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One thought on “Full employment: what is it and can it happen?

  1. What jobs.

    Zero hour contracts, so not in the welfare state as nil NI credits from benefit and nil NI contributions as below the lower entitlement limit to pay National Insurance.

    Jobs paying too low to be in the welfare state by being being below the National Insurance lower level entitlement, so nil state pension as well, when no other income in old age for life.

    Low waged jobs back in the dark ages of the 19th century Truck System and now called the salary sacrifice system of half the wage (far below the minimum wage anyway) and half in expenses (deductions for admin). Again out of the welfare state as neither gaining NI record from benefit nor wages. Below level of Tax credits to be getting NI credits?

    Rise in employment only to find not earning enough to pay income tax.

    This is not even capitalism, as the bulk of the people need to have spending money.

    This is not even survival money.

    And what of those reaching late 50s / early 60s denied state pension payout, and now faced with the flat rate pension that will give them nil state pension even more for those retiring on and from 6 April 2016. According to Pensions Minister Lib Dem Mr Steve Webb, no party in parliament voted against the pension bills.

    And the big parties are all in a state spending reduction going to reach 1930s levels, before the 1948 welfare state.

    Is it me, or can you see a train wreck coming, when all these people realise they have been hit by what The Times called entirely preventable impoverishment?

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