A measure of the full employment rate of unemployment in the UK

Robert A. Laslett

Chapter 10 in Can We Get Back to Full Employment?, 1978, pp 116-136 from Palgrave Macmillan

Abstract: Abstract While it cannot be the case that, in a normally functioning economy, full employment is attained only when the number of registered unemployed falls to zero, it is also fairly generally recognized that in Britain at the moment there is considerably less than full employment and that the published unemployment figures provide some indication of this. What I have tried to do in this chapter is to arrive at a single figure for the unemployment rate that might reasonably be taken as representing full employment. For this purpose we have to have a definition of full employment. In line with Chapter 2, it seems desirable to define it as being a state of the labour market similar to that prevailing in the period 1948–66, that is as one in which job seekers encounter a comparable degree of difficulty in finding a job acceptable to them.

Keywords: Labour Market; Unemployment Benefit; Replacement Ratio; Full Employment; Composition Effect (search for similar items in EconPapers)
Date: 1978
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-16020-4_10

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DOI: 10.1007/978-1-349-16020-4_10

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