Impacts of Globalisation on the Labour Market of Australia

Running head: COONSTRUCTION ECONOMICS
Construction Economics
Name of the Student
Name of the University
Author Note

1CONSTRUCTION ECONOMICS
Table of Contents
Introduction................................................................................................................................2
Impacts of Globalisation on the labour market of Australia......................................................2
Implications on the labour dynamics in the construction industry of Australia........................4
Conclusion..................................................................................................................................6
References..................................................................................................................................8

2CONSTRUCTION ECONOMICS
Introduction
The global economy has experienced considerable dynamics over the years, much of
which can be attributed to different international phenomena, of which one of the primary
events is that of the Globalisation. The term “Globalisation” refers to the worldwide social,
financial, economic, trade and political integration, which is facilitated by opening of the
national domains for setting up higher interconnected communications with all parts of the
globe. The effects of globalisation have been considerably huge in different sectors of the
countries in the international framework (Jones 2013). Keeping this into consideration, the
concerned report tries to emphasize on the impacts of this international phenomenon on the
labour market of one of the most eminent economies in the global scenario, that is the
economy of Australia.
Impacts of Globalisation on the labour market of Australia
As discussed above, the primary contribution of Globalisation on the global
framework is the increased integration and inclusiveness of the different countries across the
globe. This in turn, has influenced different sectors of the country, in different manners.
Australia, as an economy has remained one of the most developed ones in the global
framework over the decades. Much of this development of the country as a whole can be
attributed to the development of the different industries in the country, over the years.
Globalisation, by opening the global market and trading opportunities has also contributed in
increasing the economic and overall prosperity of the country, which can be seen to be
reflected in the overall high standard of living of the population as a whole (Dyster and
Meredith 2012).
This economic prosperity of the country, has over the decades attracted people from
all parts of the world, especially from the low developed countries, to tend to migrate to the