Australian Labour Market Essay

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Australian Labour Market

Australian’s lifestyles and living conditions can are significantly affected by the levels of unemployment and employment. A labour market is a place in which personnel and employees interact with each other, in this situation the establishments will seek to hire the best workers, who aim to complete a trade to the standards set by those employing them. Labour markets can be established by three basic conditions, these are, stronger market, weaker market and ideal market conditions.
If there is enlarged demand for labour by firms and large organizations, the market conditions will get stronger. This can be understood through unemployment rates, of which Australia is currently around 5.7 percent and reasonably stable. …show more content…

This is displayed when there is an escalation in the duration of unemployment, as there are less jobs available for a growing amount of people looking for work. For men the median amount of time spend unemployed was seventeen weeks, whereas for women it was fourteen weeks. The incidence of this unemployment, which is a measurement of unemployment in different industries and geographical areas The most common issue for male work hopefuls when searching for employment is that there are too many applicants, around 14 percent have faced this issue. However, for those aged fifteen to nineteen the biggest difficulty when finding work is no job vacancies. Unlike those over fourth five who have been told that they are too old. The incidence of this unemployment, which is a measurement of unemployment in different industries and geographical areas. Youth unemployment has reached a distressing level of 13.5 percent, with currently 300,000 persons aged 15-24 being unemployed. Only around 4 percent people over the age of twenty five are unemployed, this is a strong figure and implies that there is job availability for people within this age bracket. Surprisingly however, the rate of unemployment of for people over forty five is slightly less at around 3.6 percent. This lack of employment is more prominent in rural areas of which there are less available jobs, along with those being

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