Low levels of unemployment

• • A level of unemployment will always exist as some people are changing jobs and therefore unemployed temporarily. For this reason economists believe having 3% of the workforce unemployed is as close to full employment as possible
• Why is low levels of unemployment a macroeconomic objective?

  • It represents a waste of human resources and so prevents an economy from reaching its capacity to produce goods and services
  • If unemployment lasts for an extended period , it can mean workers losing their job skills and thus their future employability