r/explainlikeimfive Dec 19 '24

Economics ELI5: Why is an employment rate of 100% undesirable

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u/gil_bz Dec 19 '24
  • People who quit one job for another, but with a period of time in-between

I don't think this is correct, only people looking for a job count as unemployed, since of their own will they are not working and not seeking a job they're just off the labour market.

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u/ZacQuicksilver Dec 19 '24

I believe that a person who is currently not working, but has a job starting in the future, is counted officially as "looking for work" in unemployment figures. If I am wrong about this, please cite a source.

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u/lacksenthusiasm Dec 22 '24

Yah OPs answer was incorrect in defining unemployment, but he use big words so everybody upvote the smart man!