Unemployment Issues Assignment PDF
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Added on 2021-06-17
Unemployment Issues Assignment PDF
Added on 2021-06-17
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Running Head: Unemployment IssuesAnalysis of the Unemployment Rate in AustraliaBy (Name)(Tutor)(University)(Date)
Unemployment Issues2Analysis of Unemployment Rate in AustraliaIntroductionThe unemployment increment in Australia has been a major threat on this economy. The poverty rate in Australia is very high owing to a high unemployment rate. There many people is Australia seeking to be employed. Others have no jobs but are not searching as they have done sofor long without success and they’ve ended up losing hope. A high unemployment rate symbolizes the fact that Australia is not healthy and that its growth is not sufficient to create sufficient jobs. The easiness of getting a job in Australia has greatly reduced. The supply for workers has gone up while the rate of job creation has fallen. The unfavorable business conditions has also weakened the demand for workers by companies. This paper shall define clearly what unemployment is and describe certain set conditions that one has to fit so as to be included in that bracket. The various changes that have been observed in the Australian workforce will also be discussed. The analysis on the Australian states mostly affected by high unemployment rate will also be done. Here we shall discuss the various causes and unemployment types. The government policies that have been implemented to affect changes in the workforce will also be considered. This will include the implementation of minimum wages, fiscal and monetary policies intended to stimulate the economy so as to create more jobs. The paper will give a good picture of the current situation in the Australian economy. It shall also determine whether the reported unemployment rate is sufficient to give an interpretation on Australian economic Performance. Other issues such as that of underemployed and discouraged workers will be an important part of this study. The policy makers will thus be the major beneficially of this research as they may use it to gauge the effectiveness of their policies. Recommendations will beprovided for both the unemployed persons, and the government.
Unemployment Issues3AnalysisFig: Unemployment Rate (Total unemployment, Male unemployment, Female Unemployment)201320142015201620175.25.45.65.866.26.45.35.45.55.65.75.85.966.16.2Unemployment data and Distribution in AustraliaFemale unemploymentMale unemploymentTotal unemploymentAxis TitleUnemploymentRate(%oflaborforce)Source: (Databank.worldbank.org, 2018)The three forms of data was extracted from the World Bank report. The total unemployment rate as lower is 2013 where the reported value was 5.6%. On this data report, more males (% of male labor force) were unemployed compared to female (% of female labor force). In the year 2014, the unemployment rate rose to the highest rate recorded during this period. The reported rate was 6.17%; on this data, more females became unemployed compared to the male group. In 2015, the rate still remained high, but slightly lower than that of 2014. The reported rate during that year was 6.07%, still more females were unemployed compared to males. In 2016, there was a gradual fall in the rate to 5.78%. The proportion of female unemployment was still higher compared to that of males. Lastly in 2017, the rate fell further to 5.67%; still more females were employed than males. Thus as observed in the graph, females arethe most impacted by the high Australian unemployment rate.
Unemployment Issues4Unemployment CausesThe contribution of high unemployment rate is related to many factors. However, there are specific factors that have been noted to contribute heavily to the Australian unemployment increment. The common causes are state-specific and others are common in the whole of Australia. The following factors are the common causes in Australia excluding the discrimination of senior and younger workers. One is the closure of industries; Sebastian (2015) pointed out that closing down of shops is the major reason behind the high rates. There are so many people that have been left jobless after their industries have shut down. These people have added to the number of the unemployed persons. From a matter of fact, there is less industrial diversification in the South Australian statemaking it difficult for those who lose their job to get a newer one. Some of the industries closing down include; manufacturing, agriculture and textile industries. These industries employ a greater proportion of the total labor force. Sebastian (2015) also noted that the federal government has failed in its advanced planning on preparing the workforce on how they will switch to other jobs after the close down of Holden. The blame cannot be wholly laid on the failure of the government but also on individuals. Sebastian argued that individuals should observe the state and performance of their industry and it’s not good, they should plan ahead and start looking for a new job. The bank is blamed by some people for their failure on promoting innovation on new business startup so that the businesses might grow to employ more people.Second, changes in infrastructure spending; the harder economic times has resulted in a decline in public and private infrastructural spending. This has led to the shifting of skilled personnel including engineers to overseas which has left so many without jobs. When the hard economic time comes to an end, these skilled personnel are not available which keeps workers out of jobs until such skills are available once again. For this reason, South Australia had been using more of Victorian workers for their major projects. The use of interstate workers preventedthe picking up of work by the South Australian locals.Third, offshoring; some years back, the western countries began receiving tax incentives from other countries to factories and jobs to their country. This force workers to adapt as many textile and manufacturing jobs were going offshore. This movement has led to the decline in the manufacturing sector such that exportation has fallen and Australia is becoming more of a service-based economy. The workers left behind lose their previously held skills and therefore a
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