<P> Full employment means that everyone who wants a job have all the hours of work they need on "fair wages". Because people switch jobs, full employment means a stable rate of unemployment around 1 to 2 per cent of the total workforce, but does not allow for underemployment where part - time workers cannot find hours they need for a decent living . In macroeconomics, full employment is sometimes defined as the level of employment at which there is no cyclical or deficient - demand unemployment . </P> <P> Some economists reject that full employment is a worthwhile goal, and see it as a necessary means to control inflation, i.e. to prevent inflation from accelerating . This view is based on a theory centered on the concept of the Non-Accelerating Inflation Rate of Unemployment (NAIRU), and those who hold it usually mean NAIRU when speaking of full employment . The NAIRU has also been described by Milton Friedman, among others, as the "natural" rate of unemployment . Having many names, it has also been called the structural unemployment rate . </P>

Full employment does not mean that there is zero unemployment because
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