Full Employment

Definition: Full Employment

Full Employment

Noun

1. The economic condition when everyone who wishes to work at the going wage-rate for their type of labor is employed.

Specialty Definition: Full employment

In economics, full employment means no unemployment or underemployment, or, alternatively, no unemployment above the level of natural unemployment.

The active pursuit of national full employment through interventionist government policies is associated with Keynesian economics and marked the postwar agenda of many Western nations, until the stagflation of the 1970s.

Australia was the first country in the world in which full employment in a free society was made official policy by its government. On May 30, 1945, The Australian Labor Party Prime Minister John Curtin and his Employment Minister John Dedman tabled a white paper in the Australian House of Representatives titled Full Employment In Australia, the first time any government apart from totalitarian regimes had unequivocally committed itself to providing work for any person who was willing and able to work. Conditions of full employment lasted in Australia from 1941 to 1975.

Ideas associated with the Phillips curve have questioned the possibility and value of full employment in a society. There has also been criticism of full employment policies by many economists, particularly by monetarists such as Milton Friedman who believe that full employment decreases productivity and efficiency and helps cause inflation.

Modern Usage: Full Employment

Domain	Usage
Screenplays	Yes, by God, we could've had full employment, whopping Gross National Product, nice cushy feeling that we've got a bomb for every one of theirs. (Seven Days in May; writing credit: Fletcher Knebel; Charles W. Bailey II)
Source: compiled by the editor from various references; see credits.

Commercial Usage: Full Employment

Domain	Title
Books	Conduct of monetary policy : report of the Federal Reserve Board pursuant to the Full Employment and Balanced Growth Act of 1978, P.L. 95-523 and the state of the economy : hearing before the Subcommittee on Domestic Monetary Policy of the Committee on Ba (reference) Work and Idleness: The Political Economy of Full Employment (Recent Economic Thought Series, 66) (reference) Room to Manoeuvre: Political Aspects of Full Employment (reference) (more book examples)

Music	Full Employment (reference) (more classical music examples; more popular music examples)
Source: compiled by the editor from various references; see credits.

Photo Album: Full Employment

Thumbnail	Description & Credit	Thumbnail	Description & Credit
	Full production and full employment under our democratic system of private enterprise / Michael Lenson. Credit: Library of Congress.		For full employment after the war, register, vote / Ben Shahn. Credit: Library of Congress.
	Think of the benefits of full employment : vote NDP. Credit: Library of Congress.
Source: pictures compiled by the editor from various references; see picture credits.

Non-Fiction Usage: Full Employment

Subject	Topic	Quote
Business		Full employment is one of the major policies of the ruling "Labor" government in Norway. (references)
Economic History	Singapore	Singapore has enjoyed virtually full employment for long periods of time. (references)
	Cyprus	In 2000, the Cypriot economy recorded for the third consecutive year satisfactory growth under conditions of full employment. (references)
	Sweden	The governing Social Democratic Party, in particular, includes full employment and maintenance of current living standards among its basic planks. (references)
Political Economy	UKRAINE	These subsidies, however, do not appear to be specifically designed to provide direct or indirect support for exports, but rather to maintain full employment and production during the transition to a market-based economy. (references)
Source: compiled by the editor from ICON Group International, Inc.; see credits.

Speeches: Full Employment

Speaker	Term	Phrase(s)
Harry S. Truman	1945-1953	This does not mean, however, that continuing full employment is assured.
John F. Kennedy	1961-1963	We must move along the path to a higher rate of growth and full employment.
Source: compiled by the editor from various references.

Modern Translation: Full Employment

Language		Translations for "full employment"; alternative meanings/domain in parentheses.
Finnish		täystyöllisyys. (various references)

German		Vollbeschäftigung. (various references)

Japanese Kanji		完全雇�"� . (various references)

Japanese Katakana		か�"ぜ�"�"よう. (various references)

Pig Latin		ullfay employmentay

Russian		полная занятость. (various references)
Source: compiled by the editor from various translation references.

Anagrams: Full Employment

Scrabble® Enable2K-Verified Anagrams
	Words within the letters "e-e-f-l-l-l-m-m-n-o-p-t-u-y"
	-4 letters: employment.
	-5 letters: emolument, opulently.
Source: compiled by the editor from various references; see credits. SCRABBLE® is a registered trademark. All intellectual property rights in and to the game are owned in the U.S.A and Canada by Hasbro Inc., and throughout the rest of the world by J.W. Spear & Sons Limited of Maidenhead, Berkshire, England, a subsidiary of Mattel Inc. Mattel and Spear are not affiliated with Hasbro.