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Originally Posted by CaptainCrunch
At 3% usually 50% of those people either don't want to work or have priced themselves out of the market.
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Actually, people who don't want to work aren't counted in employment stats.
For such a low number like 3%, that is considered full employment. The 3% is essentially "friction" - it's people changing jobs, since you're considered unemployed for the time you end your first job and you start your new one (yes, even if you quit on Tuesday and start on Wednesday).