natural rate of employment definition

natural rate of employment

Economic concept that (in the long run) there will be a typical rate of employment determined by market forces which the government can increase only by causing high rate of inflation. In some industrialized countries, however, this rate is seen to move upwards (level of unemployment falls) over time due to gains in productivity. See also national rate of unemployment.

natural rate of employment appears in the definitions of the following terms: natural rate of unemployment and national rate of unemployment

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