Unemployment Of The Australian Labour Market

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Introduction: This report will analyse unemployment in the Australian labour market. Since 1990, the ratio of the number of individuals employed to the working-age population in Australia has changed around a generally steady level, while the unemployment rate has climbed from 5.8 to 11.0 percent in the 1990s. From that point it declined reasonably reliably to achieve 6.1 percent in August 2000. Increments in the unemployment rate happened essentially in three relatively short episodes connected with the sharp contractions in economic activity in the mid 1990s, 2004–2008 and 2008–2009. Besides, the rises in the unemployment rate in these episodes had a tendency to be extensively quicker than the falls in the subsequent recoveries,…show more content…
Unemployment rate during economic constrictions and recessions and falls during economic expansions and blasts. However, Australia 's seasonally adjusted unemployment rate expanded by less than 0.1 percentage point to 6.3 percentage in November 2014 as announced by the Australian Bureau of Statistics (ABS) on 11 December 2014. Also, seasonally adjusted labour forces participation rate expanded 0.1 percentage point to 64.7 percentage in November 2014. Moreover, ABS reported the number of individuals employed increased by 42,700 to 11,637,400 in November 2014. The increment in employment for females (up 36,400) and full time employment for males (up 23,300) offset by a fall in female full-time employment (down 21,400). Alongside this, the aggregate full-time employment expanded up 1,800 (Media release, 2014). However, unemployment is measured as: Labour force = Number of employed + Number of unemployed Unemployment rate = Number of unemployed/ Labour force * 100 Labour-force participation rate = Labour force/ Adult population * 100 Oct 2014 Nov 2014 Oct 14 to Nov14 Nov 13 to Nov 14 Trend Employed persons ( '000) 11606.7 11613.9 7.1 1.2% Unemployed persons ( '000) 770.6 775.4 4.7 9.0% Unemployment rate (%) 6.2 6.3 0.0pts 0.4pts Participation rate (%) 64.6 64.6 0.0pts -0.1pts Seasonally Adjusted Employed
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