Efficiency wages offer, therefore, a market failure explanation of unemployment, in contrast to theories that emphasize government intervention (such as minimum wages).[1] However, efficiency wages do not necessarily imply unemployment, but only uncleared markets and job rationing in those markets. There may be full employment in the economy, and yet efficiency wages may prevail in some occupations. In this case there will be excess supply for those occupations, but some applicants are not hired and have to work for a probably lower wage elsewhere.