The phrase "cent unemployment" refers to a situation where the unemployment rate is very low, close to zero percent. It means that almost everyone who wants a job in a particular area or country is employed. Full definition
But the dominant school of economic thinking favors at least five per cent unemployment. (religion-online.org)
And in Alberta, not even a recession and a nine per cent unemployment rate did much damage to house prices in Calgary and Edmonton. (canadianbusiness.com)
The U.S. Federal Reserve backtracked on its 6.5 per cent unemployment target after joblessness fell faster than expected — not because companies are hiring, but, analysts say, because millions of Americans gave up on looking for work. (macleans.ca)