No, being unemployed is the coercive factor here. It's not fair to treat at-will employment as non-coercive unless non-employment is actually zero. Non-employment currently stands at about 7.7%: https://www.richmondfed.org/research/national_economy/non_em...
Why would anyone turn down a chance to make a living if a job is offered? Why do you think the fed ensures that there are never enough jobs for everyone? Why do you think the fed and the business world talks about the economy in terms of "jobs" and "unemployment" when these are metrics largely unrelated to stuff like "am I actually getting a fair wage" and "is housing priced anywhere near rationally"? etc—the non-coercive labor market is a complete illusion.
