[MNJohnnie]

https://www.investopedia.com/terms/f/fullemployment.asp

Full employment is considered to be any acceptable level of unemployment above 0%. Full employment exists without any cyclical or deficient-demand unemployment, but does exists with some level of frictional, structural and voluntary unemployment. Full employment is seen as the ideal employment rate within an economy and is normally represented by a range of rates that are specific to regions, time periods and political climates.

A government or economy often defines full employment as any rate of unemployment below a defined number. If, for example, a country sets full employment at a 5% unemployment rate, any level of unemployment below 5% is considered acceptable. Full employment, once attained, often results in an inflationary period. The inflation is a result of workers having more disposable income, which would drive prices upward.

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[tcrlaf]

I was taught in College that 4% is “Full Employment”.
Below that percentage 1/2 are the “Chronic Unemployable”, ie: Drug Users, shifty folks, disabled, etc., and the other half are “the Criminal Element”.

[Does so]

I was taught in College that 4% is “Full Employment”.

I must be older, as I was taught 3%.

With the legalization of marijuana, a new percentage is needed—perhaps 6% or (in increments) to 10%.