Page "Frictional unemployment" Paragraph 2

Frictional unemployment is related to and compatible with the concept of full employment because both suggest reasons why full employment is never reached.

Frictional unemployment is always present in an economy, so the level of involuntary unemployment is properly the unemployment rate minus the rate of frictional unemployment, which means that increases or decreases in unemployment are normally under-represented in the simple statistics.

Frictional unemployment coincides with an equal number of vacancies.

Numerically, it is therefore maximal when the labor market is in equilibrium.

When for instance demand far exceeds supply, the frictionally unemployed will be few as they will get many job offers.