Full employment is defined by the Council of Economic Advisers as

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Full employment is defined as the level of employment at which virtually all individuals willing and able to work are employed, accounting for the normal frictions in the labor market such as the time it takes for people to find new jobs after they lose one. It does not imply a zero percent unemployment rate, as there are always some level of job transitions and seasonal unemployment.

Full Employment Is Defined by the Council of Economic Advisers