Looking closer, there are some possible explanations for this change in statistics. Previously, unemployment in Australia increased in the time of the recent global economic downturn, although didn’t suffer as poorly as other countries according to data from the Organisation for Economic Co-Operation and Development. However, while unemployment rose, so too did the number of people in other forms of underemployment such as part-time and casual work (OECD, 2010). According to Sappey et. al., the status of employment requires workers to only work one hour per week and so therefore many underemployed workers receive the same employed status in this data as full-time workers (Sappey et.
Conclusion Employment situation and economic fluctuation can affect the stability of the country. Australia is experiencing the highest level of unemployment in more than 10 years now. The reasons that contribute to the situation include less confidence in future economic conditions and the reduction on mining investment. A high unemployment rate can damage social stability and hider economic growth. The demand of labour decrease and the quantity of labour employed decreases.
• Job vacancies decreased. • Provide cheap labour for companies • Taking jobs that the young generation look for no experience or less education(worries in the future about the jobs) • Decreased job opportunities within Australia • Cheap labour outside Australia (Bangladesh) • Fair work Australia- Minimum Wage There is rise in aggregate monthly hours work by 20.5 million hours to 1,635.8 million hours, which could indicate future improvements in the jobs market, as economist has said. The stake holders that are being impacted are: • Owners • Consumers • Employees • Suppliers In Australia, 6%...
As the economic outlook became uncertain and demand and output delayed, employers seek casual and part-time workers to manage risk, leaving many of those who remained employed working fewer hours over the short term increasing levels of underemployment. Economic recovery package – use of macroeconomic policies Fiscal policy The Government’s early and decisive fiscal stimulus packages have helped to shield the Australian economy from the worst impacts of the global downturn. The strategy had been designed to strengthen the future capacity of the economy while also providing a stimulus with immediate effects. The Government’s actions have been estimated to support up to 210,000 Australian jobs. As a consequence of the worst global recession since the Great Depression, the Government had implemented a fiscal deficit as well as the operation of automatic stabilisers such as unemployment benefits.
Pay equity is a term used to describe when men and women receive equal pay for work of equal value. The gender gap still exists in Australian workplaces. More alarmingly, according to The Workplace Gender Equality Agency (2013) over the last four years the gender gap in pay has widened to 17 per cent. Some might say that 17 per cent isn't so much in the scheme of things, but accumulated over a lifetime it has a huge impact on woman's financial security in old age. AMP NATSEM's ‘She Works Hard for the Money: Australian Women and the Gender Divide’ reported that “the gender pay gap over a lifetime would result in an average earnings deficit of nearly $1 million and an even higher $1.5 million for those with university degrees.”(NATSEM University of Canberra 2009, p. 1) Lower incomes also impact on a Women’s ability to save for retirement.
However, enhanced demand for part-time workers resulting from extended trading hours in retail and other service industries could be one factor elucidating this trend . Due to the decrease in full time employees, employers were more willing to pay higher hourly rates to the casuals. It i... ... middle of paper ... ...l not be determined enough to continue on with their education and cultivate their knowledge if they already have a high-income occupation. This goes on to prove that teenagers do not need the funds of an adult worker, as they have parents who take care of most of their personal financial needs. Conclusion In conclusion, the current model for youth wages in Australia is one that is unrivaled.
How the U.K. Labour Market Has Changed Over The Last 20 Years The different types of Unemployment There are many different types of unemployment, these are: frictional unemployment, structural unemployment, seasonal unemployment, classical unemployment, and demand deficient unemployment. Frictional unemployment is unemployment for a short duration of time as workers move from one job to another. Over the last 20 years information has improved and people are more aware of the availability of better paid job, promotions etc and hence they may be moving form job to job more often hence increasing temporary frictional employment. Structural unemployment is caused by a lack of capital for goods and services in the economy or a particular sector. As the structure of an economy changes, certain workers may find themselves made redundant as their skills are no longer required, or that the region in which they live does not have enough employment opportunities.
136). In Australian, Indigenous people often treated unfairly. They have low rates of labor force participation, high rates of unemployment and low earnings (Strachan, French and Burgess 2010, pp. 26). In comparison, the unemployment rate for Indigenous Australian is approximately three times greater than other races (Strachan, Fr... ... middle of paper ... ... workforces so it is challenging for managers to integrate their workforce as a solid group.
In the early 1900s' life was harsh for most of the people, but Australia is often described as the working mans' paradise. Which is not even possible to describe a country in 1900s'. So in order to determine the truth of this statement, we are going to focus on three necessary issues. Firstly, the hours they work, secondly, the wages wages, thirdly, the working conditions and fourthly, the treatment in workplace. The first issue that has been considered is the hours they work.
Over the last two decades the Australian population has faced a number of economic instabilities that has seen the gap between the ‘haves’ and ‘have nots’ increase. To determine who the ‘haves’ and ‘have nots’ are an in-depth investigation will be performed examining the circumstances under which the gap can be manipulated. The economic wellbeing of individuals is largely determined by their command over economic resources (ABS, 2009). The wellbeing of individuals who are classified as ‘haves’ are usually people who are asset rich, contain bonds, shares and are fairly affluent. The wellbeing of individuals who are classified as ‘have nots’ are usually the working poor, who have little assets and little investments i.e.