logo

Unemployment and inflation rates - Australia

   

Added on  2021-06-17

7 Pages1194 Words26 Views
 | 
 | 
 | 
Running Head: UNEMPLOYMENT AND INFLATION IN AUSTRALIAINFLATION AND UNEMPLOYMENT IN AUSTRALIANameProfessorInstitutionCourseDate
Unemployment and inflation rates - Australia_1

UNEMPLOYMENT AND INFLATION IN AUSTRALIA2Report given by the Australian Bureau of Statistics consumer price index shows that the rate of inflation has been increasing by 2.6 per year. The prices that were recorded in 2018 were greater (87.8%) when compared to the ones for the year2016.The AU$ 100 in the year 2001 was equal to the purchasing power of 2016 which stood at AU$ 187.8 (this was a clear margin of AU$ 87.8 in this span of 16 years).if compared to the 2017 annual rate, the 2018 inflation rate is now 1.80%.Given that this number remains constant, AU$100 in present would equalize, AU$101.80% in 2019. First hand data for this scheming is obtained from the Australia’s CPI which is provided by the reserve bank of Australia (Australian Bureau of Statistics, 2014). In estimation, approximately 2.575 million people are unemployed or under employed.as of January 2016, 13 million people are employed as reflected by the records. Approximately 7.8 million people are infull time employment where else almost 3.9 million people are employed in part time and an approximate of 1.3 million people are under employed. The rate of unemployment has steadily increased by 0.5% as of now due to the high number of graduates seeking jobs, in estimate,2.6 million people in Australia are under employed or unemployed(Australian Bureau of statistics,2014).
Unemployment and inflation rates - Australia_2

UNEMPLOYMENT AND INFLATION IN AUSTRALIA3
Unemployment and inflation rates - Australia_3

End of preview

Want to access all the pages? Upload your documents or become a member.

Related Documents
Inflation and Unemployment in Australia Assignment
|7
|1299
|59

Economics Assignment Solution (pdf)
|11
|1116
|46

Economic Analysis - Assignment Sample
|7
|1393
|105

Analysis of Australia’s Macroeconomic Factors: Production Output Performance, Unemployment, Inflation and Price
|14
|3213
|250

Economic Growth of Australia: Analysis of Last Five Years
|16
|2882
|270

Macroeconomic Analysis of Australia: Key Indicators, Relationships, and Outlook
|19
|3364
|430