What economic condition is defined by a steady state of demand for labor units?

The condition referred to as equilibrium employment occurs when the demand for labor is balanced with the supply of labor available in the market. In this state, employers are able to find enough workers to fill their job vacancies, and individuals seeking work are able to find employment opportunities that match their skills and availability.

Equilibrium employment signifies that there is neither an excess nor a shortage of labor, which stabilizes wage rates and prevents fluctuations in employment levels. This balance between labor demand and labor supply allows for efficient allocation of resources in the economy, as firms can operate without labor constraints, and workers can secure jobs without facing prolonged periods of unemployment.

The other options suggest different concepts that do not precisely capture this specific balance of supply and demand in the labor market. Therefore, equilibrium employment is the most accurate term that reflects a steady state of demand for labor units.