Labour Market Dynamics in Australia: A Microeconomic Analysis

Running head: ECONOMICS FOR BUSINESS
Economics for Business
Name of the Student
Name of the University
Author Note

1ECONOMICS FOR BUSINESS
Table of Contents
Introduction................................................................................................................................2
Essence of the story....................................................................................................................2
Economic Interpretation.............................................................................................................3
Conclusion..................................................................................................................................6
References..................................................................................................................................8

2ECONOMICS FOR BUSINESS
Introduction
The economy of Australia has been one of the dominant economies in the
contemporary scenario, with impressive traits in the different social, political, demographic
and economic framework. In the economic front, the country has been performing
considerably well over the last few decades, which can be seen from the robust dynamics in
the different economic variables like the growth of the GDP of the country, the aggregate
demand and supply scenarios, the stabilities in the foreign sector as well as development of
industrial and commercial sectors of the country over time, along with robust technological
and infrastructural development (McLean 2012).
The economic growth of the country is linked to the creation of employment in the
economy over the years, which in turn has contributed to the higher standard of living of the
residents of the economy as a whole. The creation of jib opportunities in the economy has
over the years attracted huge number of people from different parts of world to migrate in the
country in search of jobs and better economic as well as overall welfare.
The labour market in the contemporary economy of Australia has been however
facing considerable dynamics owing to the shift and dynamics in the agricultural, industrial
and service sectors of the country (Wilkins 2015). Keeping this into consideration, the
concerned report tries to analyse the demand and supply dynamics in the aspect of labour or
human resource market of the country. For analysing the same, the report refers to the article
named “Where the jobs of the future will be”, published in The Australian (Salt and Salt
2018).
Essence of the story
The concerned report highlights the recent dynamics in the labour market of the
country and also tries to shed light on the dynamics and the nature of jobs existing in the