As described in the previous section, Australia has been experiencing an economic boom for several years. In order to continue such a successful story, a functioning labour market is necessary.
A closer look at the Australian labour market illustrates that it is predominantly dominated by the service sector. In 2017, almost 80% of the employees worked in this area. The remaining 20% were employed in sectors like mining, construction, manufacturing or agriculture (ABS, 2018). An appropriate approach to analyse the efficiency of a labour market is to calculate the employment rate. According to the theory, there is a correlation between economic growth and the number of unemployed persons. Consequently, as the economy grows, the unemployment
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(ABS, 2018). This trend is partly due to the support of the Reserve Bank of Australia (RBA), which reduced the cash rate. Through this expansive monetary policy, Australia tried to place cheap money in circulation in order to stimulate the economy which should make more jobs available (RBA, n.d.). However, it must be critically noted that, despite the incredible economic growth of recent years, Australia has not managed to keep the unemployment rate permanently below five percent. This is also due to the fact that the employer side sometimes has serious difficulties to keep pace with the increase in workforce (RBA, 2013). Furthermore, some experts suspect the reason for the level of unemployment is the high minimum wage. Indeed, Australia has a very high minimum wage, but this varies due to age and industry. As a result, 24% of Australians employees only received the minimum wage in 2017. However, the impact of the minimum wage on the unemployment has not yet been proven (Mather, 2017). From a macroeconomic point of view this situation can be described as an oversupply of labour (Keat, Young & Erfle, 2014) A wage increase will only be possible, if the unemployment rate decreased to the RBA determined natural unemployment rate of five percent
If this growth rate is too quick, it can lead the economy into a recession. The inflation of prices has doubled since 2015, proving economic expansion. Due to the business cycle, when the economic expansion is finished, recession comes soon after. The job market in Canada has been declining slope, making jobs more scarce to the Canadian workforce.According to Trading Economics, the unemployment rate has grown from 6.6 percent in January 2015 to 7.2 percent in January 2016. In Dinner Party Economic it explains the relationship between inflation and cyclical unemployment and how both topics never occur at the same time, “We don’t see inflation and cyclical unemployment occurring at the same time, which is why economists often talk about the unemployment and inflation as a trade-off”,
Izzo (2013) posits that the indication of the decline in unemployment was a long term discouragement and loss of hope of the labor force. Consequently, people are not willing to search for work at the prevailing rate and hence cannot be considered unemployed. The article indicates that the labor force participation rate in the United States by August 2013 was at its lowest (63.2%) since 1978. This rate has been defined as the ratio of labor force and overall population size in a given demographic cohort (population at the same age bracket). Although it has been reported that the number of jobs in the US economy went up in August, there was a surprisingly significant drop in the employed population.
Our society is structured according to already predetermined dimensions. Especially significant is gender. Our gender is an element that can not only define differences but also create advantages and disadvantages (unequal society 148). It therefore becomes essential to consider what gender refers to. Gender is best defined as a way of classifying people based on socially agreed distinctions that are associated with male and female anatomy (gender history 153). Gender differentiation is evident in all societies and in particular in Australia with men and women seen to take on different social roles (gender 384). This has resulted in a significantly unequal spread of life chances (gender 384). Thus creating a category of analysis that inequalities flow from (gender history 154). Differences in opportunity between men and women therefore become evident. This historically established prejudice against women. However, the women’s liberation movement in the 1960’s and 1970’s broke barriers with women gaining more power in respect to education and employment (gender 383). Despite such breakthroughs, elements of gender inequality can still be seen in Australian society. This is interesting as most Australian’s have an assumption that we are an egalitarian society that does not encourage injustice and believes everyone should have a ‘fair go’ (collective identity 167). Through the exploration of the Australian labour force and harassment, violence and discrimination towards women we can see that gender equality is growing, but still evident, in Australian society.
Thank you, Mr. Speaker, first off I would like to acknowledge the traditional owners of the land that we meet on today, the Noongar people, and acknowledge their elders both past, present, and future. It is an honour to rise in this place for the first time as the representative of the people of Capricornia. I am here today to discuss the future of gender equality in Australia. If we are honest, I think we can all agree that gender equality is an issue which goes far beyond our reach due to our generation being so careless about it.
...nz, 2013). America’s unemployment rate is 7.5% with a petty minimum wage that is $6 to $8 less than the minimum wage pay of workers in foreign countries. An increase would benefit the lower class and families would have less of a struggle.
The rate of unemployment is an important measurement of the conditions in the total labor market. The rate of unemployment is the percentage of people in the labor force who are unemployed. It is equal to the number of people unemployed divided by the number of people in the labor force multiplied by 100. The department of Labor indicates five reasons why people may experience unemployment. These reasons included: new entrants, reentrants, job leavers, dismissed, on layoff. As the world changes, new products are introduced and new technologies are developed, some unemployment is inevitable. However, there can be a positive side to job searching because an individual can possibly find a better job.
As Canadian's fertility rate fells, baby boomers retires, immigration and foreign workers becomes very important for the increase of labor demands in the Canadian's job market. The government is planning to reduce the application waiting time and therefore there will be more newcomers coming in the next fewer years. Canadian companies will then have many experienced and foreign trained applicants where they can help Canadian companies to increase their foreign trade and to build a better relationship with the other country. However, new comers have difficulties in finding employment because of their unrecognized foreign qualifications, non Canadian work experienced and the lack of support in the settlement programs where they get help to find employment.
In theory when an increase in minimum wage increases the cost of low-wage workers firms should want to hire less workers, however in reality this basic theory might be wrong according to Plumer B. (2013) While some studies found a link between higher minimum wage and higher unemployment level many others such as a recent paper from U.C. Berkeley that exploited differences across state borders did not find a link between higher minimum wage and higher unemployment.
The question has been around for many generations, are the two key elements to evaluating a whole economy closely related? Many have studied this topic and all have come out with various results and views as to what they feel defines a relationship between the two. After evaluating the subject, the points will be defined on what may or may not link the two together. Do inflation and unemployment work hand in hand? The results characterize these two as working with one another.
Many people are often surprised to hear that Australia does not have a national Bill of Rights. Although two Australian states have adopted their own state based human rights laws. Although these laws are not specifically women’s rights laws, but these laws generally cover human rights that are similar to Gender equality. Both states outline the rights to non-discrimination and equality.
Industrialization, private enterprises, large-scale production, high-tech and natural resources are the Australian economy. Small businesses are the country's economy plays an important role. The unemployment rate in this country is the developing
Australia issued two laws related to industrial relation from 2005 to 2009, Work Choices Act 2005 and Fair Work Act 2009. While the Work Choices has been strongly opposed because of the injustice in benefits of the employers, the Fair Work Act (FWA) - gain a lot of consensus from the workforce. It has not only created an equitable work environment but also given employees more rights. This essay will analyse the changes in Australia's industrial relations and show the reasons of Fair Work Act's success. Work Choices was Australia's industrial relations law in 2005.
...that representatives comprehend their desires and realize what they need to do to get the reward.
The ageing population in Australia has created lots of social pressure. As workers have become older, many of them have begun to retire. As a result, there is a newfound lack f workers in the Australian workforce. Therefore, companies may have to increase wages to encourage more people to