The statement is generally true. Under full employment, all individuals who are willing and able to work at the prevailing wage rate can find employment. This means that the unemployment rate is at its natural rate, which is the minimum level of unemployment that can be achieved without generating inflationary pressures. In a full employment situation, there may still be some degree of frictional or voluntary unemployment, which arises from the time lag between individuals searching for jobs and finding suitable employment opportunities. However, involuntary unemployment, where individuals are willing and able to work but are unable to find employment, is absent in a full employment situation.
