 DEFINITION |
Full employment occurs when the economy is producing
to its maximum sustainable capacity, using labour, technology, land, capital
and other factors of production to their fullest potential. In a situation
of full employment, some workers may still be unemployed if they are temporarily
between jobs and searching for new employment (this is called ‘frictional
unemployment’).
| HOW
DOES IT AFFECT CANADIANS? |
Maintaining full employment is an important goal. Being
unemployed for short periods of time is not unusual over one’s working
life, but lengthy periods of unemployment can cause severe hardship. The
Employment Insurance program provides assistance to those who are unemployed.
Governments seek to maintain full employment by means of fiscal and monetary
policies.
| LINKS |
Economic Concepts – Unemployment
Source: Canadian Economy Online
Economic Concepts – Employment
Rate
Source: Canadian Economy Online
Economic Concepts – Fiscal Policy
Source: Canadian Economy Online
Key Economic Events – 1929
- 1939 - The Great Depression
Source: Canadian Economy Online
Key Economic Events – 1941 - Unemployment
Insurance Act
Source: Canadian Economy Online
Speeches from our Minister of Labour and Minister of HRDC
Source: Human Resources Development Canada
http://www.hrsdc.gc.ca/en/cs/comm/news/speech/solberg/index.shtml
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