Economic stability occurs when there is low volatility in key macroeconomic indicators such as prices, jobs, economic growth, interest rates, investment and trade. Levels of employment are an important contributor to achieving a stable and successful economy.
The UK government has employment as one of its key macroeconomic objectives, with the aim of achieving high levels of employment. The government wants to achieve an increase in the employment rate and eventually a situation where all those able and available to work can find meaningful work. However, unlike the macroeconomic objective for inflation, the UK government does not set a specific target for unemployment.
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