인스티즈앱 The labour market is where thedemand and supply of labour interact to determine the wage rate and theallocation of labour resources between firms and industries in the economy. Thestimulus emphasises the distinct trends in the labour market such as underemployment,low participation rate and high unemployment rate in Australia. The governmenthas an active role in dealing with different employment issues by creatingemployment opportunities, altering wages to be equitable and other costs ofhiring labour and pursuing policies to decentralise and deregulate the labourmarket.o:p>/o:p>
The Australian work forceincludes all the people both part time and full time employed and unemployed.The total number of employed people had a 3.3% increase in 2012 compared to2009-10 because of the government’s introduction of the 2009 Jobs and Training Compact. This was designed to support youngAustralians, retrenched workers and local communities to learn new skillsrequired to obtain new jobs. This figure has also been affected, because of anincrease in part time employment by nearly 4% in 2012 compared to 2010-11. Thisis because of the expansion in the supply of people willing to work, especiallythe rise in participation rates of married women re-entering the workforce after havingchildren. The participation rate for women increased by nearly 5% since 2007because of an increase in child care services and the government’s Paid Parental Leave Scheme in 2011 whichallows more flexibility for married workers. In 1972, the government adoptedthe principle of ‘equal pay for equal work’ that aims to remove genderinequality regarding income distribution. However, there is still an estimated19% difference in the wage outcomes of women compared to men since 2011 becausemen are more likely to work in highly-skilled competitive sectors such as thefinancial sector, information technology and conglomerates that pay notablyhigher rates. o:p>/o:p>
On the other hand, the unemployment rate hasincreased by an estimated 5% since 2011and is expected to increase to 5.5% as stressed in Stimulus C. This is becauseof cyclical unemployment or a deficiency in the total level of consumerspending due to a severe economic downturn, because of the fear that theEuropean economic crisis will derail the Australian economy. This results inemployers dismissing some existing workers and delaying the hiring of newworkers in the manufacturing and plumbing industry. Recently in 2012, more than2700 plumbers lost their jobs from the Hastie company because it has beenplaced into administration after a $20 million accounting irregularity derailednegotiations with banks to recapitalise the company. Fortunately, 90 per centof the members of the Communications Electrical and Plumbing Union who workedfor Hastie have kept their jobs. This is because trade unions are responsiblefor raising members’ working conditions through ongoing negotiations and theuse of industrial actions such as strikes, to support their claims fromemployers. Hence, this is linked to the industrial relations that consist ofthe government’s Workplace RelationsAmendment Act 2006 that protects employees from unfair dismissal.o:p>/o:p>
Through a contractionary fiscalpolicy stance, the government is currently aiming for a budget surplus nextyear where government expenditure is less than taxation. This is to lowerunemployment , as well as governmentexpenditure on welfare payments. Hence, if the budget is in surplus, it willloosen monetary policy, meaning the Reserve Bank of Australia would want topush the cash rate down to maintain full employment to smooth out economicfluctuations in economic activity by stabilising demand. o:p>/o:p>
Underemployment refers to the peoplein the labour force who are not working to their full potential.Underemployment reached a rate of 7.1% in 2010-11 because of increasedcasualisation and lack of skilled workers in certain industries. Casualisationof work is increased due to increased employer demands for flexibility andreduction of ‘on costs’ which are costs other than wages in hiring labour, suchas superannuation. However, there are disadvantages to casualisation,especially in the area of workers being underpaid. For instance, the Fair Work Ombudsman accusedColes of underpaying $149,530 to six trolley collectors between January 2010and July 2011. The Fair Work Ombudsmanconsists of inspectors to monitor and investigate complaints in workplaces toensure compliance with the Fair Work Act2009, which replaced the WorkplaceRelations Amendment Act 2006. o:p>/o:p>
Furthermore, underemployment can also becaused by a shortage of skilled workers as stressed in Stimulus A. This labourskills shortage is a reflection of shortages in the supply of labour inindustries such as mining and construction in relation to the demand for theseskills. In 2011, Western Australia had the lowest rate of unemployment which is4.1% compared to other states in the country because of the strong labourdemand due to the global resources boom that led to an expansion in miningemployment and other related industries. Consequently, there is an increaseduse of non-wage benefits such as clothing, meal and travel allowances byemployers to retain skilled labour, especially in the mining industry.o:p>/o:p>
The government followed this by theintroduction of the Building Australia’sFuture Workforce package in the 2011 budget that aims to “boostparticipation by improving incentives to participate in the workforce and theservices available to support disadvantaged Australians to find jobs”, ashighlighted in Stimulus B. Thus, the investment of “$3b in new skillsinitiatives over six years targets the skills investments to better meet theskills needs of the industry”, as disadvantaged groups such as young people,single parents, people with disabilities and people in disadvantaged locationswere targeted. The rationale behind this is that the level of education andtraining qualifications will increase the supply of labour because people are morequalified for skilled jobs. Also, the productivity of labour which refers tothe output per unit of labour employed over time will increase, thus resultingin an increased demand for labour. o:p>/o:p>
In spite of this, recently in2012, the mining industry announced that it is going to use enterprisemigration agreements to bring in 1 700 foreign workers for Gina Rinehart's RoyHill iron ore project, which undeniablysparked controversy with unions. The available skilled Australian workers donot have the geographic mobility to transfer locations, decreasing the supplyof labour available. Skilled workers from the eastern states won't move west tolive in remote locations and the new enterprise migration agreements are theonly way to secure skilled labour. o:p>/o:p>
In general, government policiesin relation to the Australian labour market have been effective in trying toreduce unemployment through the introduction of the Building Australia’s FutureWorkforce and The Fair Work Act. However, the global economy is still a significant factor in influencingthe Australian economy through its effect on consumer spending and thereforeemployment. o:p>/o:p>
o:p> 껄껄껄 5시간 동안 죽어라 썼다.../o:p>