Unemployment Trends in Australia Over the Last 5 Years

Written Essay
(Topic - Unemployment in Australia last 5 years)
1

Table of Contents
Essay Topic - Unemployment in Australia last 5 years.............................................................3
Discussing and analysing the research and the application.......................................................5
References................................................................................................................................17
2

Essay
Essay Topic - Unemployment in Australia last 5 years
In this essay and study, the past five-year trend of unemployment rate within Australia has
been discussed. Australia is among one of the rapidly growing economies and there are
various key macroeconomic performance indicators of it. Among various macroeconomic
indicators, the unemployment rate and trend have been shown in order to depict the
performance of Australia in last five years. For analysis of such thing, there are various
graphs, charts, figures, examples and many others have been used so as to generate the
reliable, authenticate and accurate results or outcome. The findings, analysis of various
research study and journal article has been made so those appropriate findings on the research
topic can be made. The conclusion has also been stated at the end of the essay which derives
the overall efficient meaning of the reported study.
Unemployment in Australia - According to the viewpoints and ideas of the author Chindamo
and Uren (2010), the unemployment refers to as the scourge among all of the countries
existing within each and every level of economic growth and development. It leads to
creating the poverty, disparity, and others from the on-going lifestyle of the human beings. In
addition to this, the Australian economy has gained of many experiences and observed a
major change in their structure. These changes are related to the technological up gradations,
increasing level of competitiveness, variations in the consumer consumption pattern and
behavior and many others. All of these changes have directly or indirectly impact on the
cause of unemployment in Australia (Chindamo and Uren, 2010).
The report study is aimed at analysing of the various trends and changes taking place in the
unemployment rate in Australia with the help of the statistical presentation.
3

Figure 1: Australian Unemployment Rate Drops In July
Source: (Olukoya, 2016)
Discussing and analysing the research and the application
This section of the essay contains the analysis and discussion made on the respective topic
and issue. Also, the various implications have been assessed in the reported study. The in-
depth knowledge and experiences have gained in order to generate the accurate outcome of
the research.
Unemployment
The unemployment is defined as the measure of prevalence relating to unemployment and is
calculated in terms of percentage through dividing of the number of individual unemployed
against all number of individuals which are present in the labor workforce (Pigou, 2013). At
the time of recession in the economy the unemployment is generally high this is so because
the companies do not have much work and funds to pay off their workers and they start
decreasing the number of their employees from the organisation. From the reports and study
of International Labour Organisation in the year 2012, there were nearly 200 million people
who were found not having jobs and were jobless. This also amounts to 6% globally and
there are numerous reasons and causes behind the unemployment such as caste system, slow
economic growth, joint family system or procedure, increase in the level of population, slow
growth of the industries, fall in small and cottage industry and many others (Pigou, 2013).
Moreover, there are various types of unemployment such as classical, cyclical, full, long-
term, structural, and frictional and many others.
In the words of the author Helpman, et. al. (2010), the unemployment refers to as the
phenomenon in which the individuals that seek for the job opportunity is not able to find the
job for them. This term is often used to analyse and measure the health status of the economy.
Some of the types of unemployment have been discussed below (Karanassou and Sala, 2010):
Frictional Unemployment – This type of unemployment refers to the situation when the
individual leaves the company and search for the other one and is not able to find another job
opportunity (Investopedia, 2018).
4