Isn’t it the case that “employment” is always 100%? What does this indicate about people if you suggest otherwise? Back in the 1600s, when we all worked on farms, would you like to have argued that the “employment rate” in America was zero? And yes, I know that the labor force statistics try to account for “self-employment” but this changes nothing about my question. It just pushes it down one level.
I’ve been trying to imagine a definition of “employment” for which “always 100%” would be true, and I’m having some difficulty. What is your definition.
And for a definition which does provide an “always 100%” attribute, what is the use of that word?
Certainly for people with no income who are looking to change that, they would almost certainly argue that they are unemployed.
Good questions all. To be employed means to use one’s labor to secure things of value. At the extensive margin is really what I have in mind else there would be no way to distinguish unemployment/underemployment from wishful thinking. Ill try to elaborate in the near future.