Full employment: an assumption within BLS projections.

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  • Additional Information
    • Subject Terms:
      UNITED States
    • Subject Terms:
      UNITED States. Bureau of Labor Statistics
    • Abstract:
      The article explores the full-employment assumption within employment projections of the labor market made by the U.S. Bureau of Labor Statistics (BLS). It discusses the association of full employment with the nonaccelerating inflation rate of unemployment (NAIRU) and the rate of gross domestic product (GDP). Cyclical and structural factors are identified as two types of factors that cause changes in employment levels.