full employment in the us economy means that
Full employment The 20th century British economist William Beveridge stated that an unemployment rate of 3% was full employment. For the United States, economist William T. Dickens found that full-employment unemployment rate varied a lot over time but equaled about 5.5 percent of the civilian labor force during the 2000s.[2] Recently, economists have emphasized the idea that full employment represents a "range" of possible unemployment rates. For example, in 1999, in the United States, the Organisation for Economic Co-operation and Development (OECD) gives an estimate of the "full-employment unemployment rate" of 4 to 6.4%. This is the estimated unemployment rate at full employment, plus & minus the standard error of the estimate.[3]
United States Secretary of Labor Alexander Acosta is the current U.S. Secretary of Labor since April 28, 2017.
Mixed economy Economies ranging from the United States[5][6] to Cuba[7] have been catalogued as mixed economies. The term is also used to describe the economies of countries which are referred to as welfare states, such as the Nordic countries.[8][9] Governments in mixed economies often provide environmental protection, maintenance of employment standards, a standardized welfare system, and maintenance of competition.
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