Unemployment In Australia Essay

The Australian economy expanded 0.5% in the June quarter of 2016, slowing from a downward 1.0% growth in the previous quarter and slightly below market consensus of a 0.6% growth. It was the weakest expansion since the second quarter 2015, weighed down by net trade while investment was flat and final consumption remained steady. Through the year, the economy grew by 3.3%, accelerating from a 3.1% in the March quarter, which is the strongest expansion since the June quarter 2012, bringing the annual growth of 2.9% for the 2015-2016 financial year and going 100 quarters without experiencing a

An increase or decrease in the unemployment rate can have a multiple effects on the Australian economy, both beneficial as well detrimental to the economic conditions and the societal outlook.

The unemployment rate has dramatically increased over the last several months. This increase has created many complications for the American people. Although the United States economy has created over 7 million jobs, there is still a long way to go until the economy is back on track.

The figure obviously had not return to pre-crisis level. Moreover, recent commodity prices had fallen significantly which will affect Australia’s short and long term economy.

Australia became a commonwealth of the British Empire in 1901. It was able to take advantage of its natural resources to rapidly develop its agricultural and manufacturing industries and to make a major contribution to the British effort in World Wars I and II. Now, Australia has a prosperous Western-style capitalist economy, with a per capita GDP at the level of the four dominant West European economies. Rich in natural resources, Australia is a major exporter of agricultural products, minerals, metals, and fossil fuels.

Unemployment is a social problem in Australia, which affects a majority of society in many ways. Not only can it cause financial debt to families, but from there it can cause family breakdowns, social isolation, shame and it can even lead to violence. The Conflict theory perspective explains how unemployment can be caused by class and power by focusing on the inequality within society. The inequality sequentially predicts that the poorer members of society struggle to find employment, to be able to get education to find suitable employment and are.

The benchmark investment rate in Australia was last recorded at 2.25%. Investment Rate in Australia found the middle value of 5.13 percent from 1990 until 2015, arriving at an unequaled high of 17.50 percent in January of 1990. Inflation Rate in Australia averaged 5.21 percent from 1951 until 2014. Customer costs in Australia rose 1.7% during the time to the December quarter 2014, the slowest yearly pace in more than two years as petrol costs dove. Australian yearly inflation rate abated to 2.3% in the second from last quarter of 2014 from 3.0 % in the past period, determined by a fall in cost of electricity, after the removal of tax duty on carbon discharge beginning early July. An alternate key variable that impacts the business is the unemployment rate. While the unemployment is staying high it is normal that RBA will keep the investment rates and trade rates low. Unemployment Rate in Australia diminished to 6.30% in February of 2015 from 6.40% in January of 2015. Unemployment Rate in Australia found to be in between 6.91% from 1978 until

Poverty, deprivation and exclusion (Saunders, 2011) are factors that have been identified as Australian societal consequences that affect the unemployed today. This essay will gain a greater knowledge of complex social disadvantages that must be recognised. In doing so studies, debates and solutions have the opportunity to gain further insight into how citizens value issues of poverty and disadvantage. While at the same time (Blakemore & Warwick-Booth, 2013) understanding how Governments introduce social policies as a means of ‘real world’ problem solving. With the purpose of understanding income management and unemployment. This essay will explain the (Blakemore & Warwick-Booth, 2013) intentions, statements, goals and ideas behind

In 1975 for the first time in Australian history, the Governor-General, dismissed the prime minister from office. The event was more than just a constitutional crisis, it was a battle of egos between three proud, and ruthless men, who's actions shocked MPs, and angered many Australians.

The Australian economy is reliant on three key sectors: services, housing, and mining. The services sector employs the largest percentages of Australians – around 80 percent – and is responsible for approximately 70 percent of the country’s GDP (Australian Bureau of Statistics, 2010). With jobs in a variety of specific industries, this sector drives the success of the Australian economy. The housing sector is experiencing unprecedented growth leading to concerns over a potential asset bubble. An increase in the amount

Australia is the world 's 13th largest economy (as on 2016), with output as measured by gross domestic product and world 's 19th largest economy (as on 2016), with output as measured by gross domestic product at purchase power parity.

The unemployment of BHP Billiton workers may result in the unemployment rates of South Australia to raise up to 9% in the next six months

Look of workforce in Australia is changing. It is no longer the same as it was 20 years ago. Where young men were the main workers and old people and women were sitting at work with their kids (Nankervis et al. 2006, p.54). Nowadays number of old people has increased dramatically, which is affecting workforce and brings new challenges to human resource. New implications that human resources have to deal with are appropriate age allocation, keeping old employees working for as long as possible and avoiding clashing of different generations. Also combine experience from old employees with knowledge of new technologies from younger ones. All these can be done by correct human resources strategies, which will benefit organizations and

In the past quarter the unemployment rate in South Australia has remained steady at 5.6% (Australian Bureau of Statistics, 2009) but this figure is volatile and may increase next month. The youth unemployment rate, however, in South Australia remains at 21.9% with the Western and Northern suburbs having significantly higher

In March 2015, Greg Jericho published an article called Weak, weak growth and six things about the state of Australia’s economy that outlined how in the past 6 out of 10 quarters the Australian