What is employment? What is full employment? Is full employement good or bad?

Employment is an agreement between an employer and an employee, in which the employee is hired to perform a specific job or task for an agreed upon wage or salary.

Full employment is when all available labor resources are being used in the most economically efficient way within an economy.

It is typically a situation with low unemployment and high labor participation rates.

Full employment is generally seen as a positive economic indicator, as it suggests that all members of the workforce are being employed and that the economy is functioning efficiently.

Full employment can also lead to increased wages and prices, which can be beneficial to the economy as a whole.

It can also lead to increased economic activity and increased government revenue.

Full employment can also lead to a decrease in inequality as more people are able to join the workforce and earn a living wage.

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